Sedac Limited (01843231): administration
- Status
- Administration ended
- Administration began
- 2016-04-04
- Administrators' firm
- Compass Financial Recovery & Insolvency
- Formerly
- South East Design & Construction Limited
- Incorporated
- 1984-08-23
- Location
- Tunbridge Wells
- Industry
- 41100 Development of building projects
Why it went into administration
- Loss-making contracts / project overruns
- Sustained trading losses
- Management failings / irregularities
- Cash flow / liquidity pressure
- Competition / price pressure
From the administrators' statement
Sedac Limited (“the Company’) was incorporated on 237 August 1984 as South East Design & Construction Ltd and changed tts name to tts present form in 1988 The original members are understood to have been Mr Gavin Paddy and Mr Peter Taylor on an equal basis, but the latter resigned as a Director in November 1997 and from then it 1s believed that the ownership passed to the control of Mr Paddy and his wife
We attach as Appendix A a schedule providing certain statutory and financial information regarding the Company
The Company commenced trading in 1984 as a general building contractor covering the entire South East of England and the London area It undertook new build and refurbishment works, both domestic and commercial The initial focus was on private building work but it quickly moved into commercial building work During the 1990's it carried out increasing amounts of work for insurance companies, particularly underpinning following the drought in the 1990’s It further expanded into hospital, local authority and government contracts while retaining private and commercial chent work
Administrators' statement of proposals (2016-06-02) · Companies House register