Glanford Services Limited (01848446): administration
- Status
- Administration ended
- Administration began
- 2015-03-02
- Administrators
- Joanne Wright, Kelly Burton
- Administrators' firm
- Wilson Field
- Formerly
- Glanford Signs Limited
- Incorporated
- 1984-09-17
- Location
- Sheffield
- Industry
- 82990 Other business support service activities n.e.c.
Why it went into administration
- Property / lease costs
- Cash flow / liquidity pressure
- Bad debts / customer insolvency
From the administrators' statement
The Company was incorporated on 17 September 1984 under the name of Glanford Signs Limited and changed tts name on 19 December 1984 to Its current style of Glanford Services Limited
As referred to previously, the Company Is part of the Kim Barker Group which consists of Kim Barker Construction Limited ("KBC”), the Company and Flixborough Fabrications Limited (“Flxborough”) The Company's role within the Group was relatively limited, in that it held certain assets which were utilised by KBC in tts ongoing business but was predominantly a vehicle which was used to purchase stock and fuel for the other Group companies The Company's business !s therefore directly and intrinsically linked to the KBC business Creditors should note that KBC was also placed into Administration of 2 March 2015 Any creditors requiring further details of the KBC Administration should contact Wilson Field for further information
Since mid-2014, KBC had been suffering financial difficulties due largely to restricted cash flow arising from delays in receiving payments from debtors and a number of bad debts Furthermore, KBC was embroiled in a contractual dispute with one of its main contractors concerning contract works with a value of £344,788 and the dispute had been passed to adjudication, creating further cashflow pressure for KBC whilst the monies remain outstanding Ultimately, KBC’s financial difficulties led to it seeking independent advice from Wilson Field concerning tts financial position This led to the directors of KBC taking steps to place KBC into Administration
Administrators' statement of proposals (2015-03-31) · Companies House register