RPM Holding Limited (01862858): administration
- Status
- Administration ended
- Administration began
- 2015-08-05
- Formerly
- R.P. Metal Company Limited
- Incorporated
- 1984-11-12
- Location
- Sutton
- Industry
- 43220 Plumbing, heat and air-conditioning installation
Why it went into administration
- HMRC / tax arrears
- Creditor pressure / legal action
- Loss-making contracts / project overruns
- Credit insurance / supplier credit withdrawn
- Competition / price pressure
From the administrators' statement
The Company had been working on a range of contracts, but a significant refit contract valued at in excess of £2M which had been carried out for Beck Interiors Limited (“Beck”) at Cranleigh in Surrey had become problematic
The Contract involved mechanica! and electrical work on three residential units and a number of apartments The Contract was due to run for forty five weeks, however, it overran and the Company attnbuted this delay to poor proyect design by the consultancy firm engaged by Beck The Company believed that it was contractually entitled to submit an extension of time (“EOT") claim of circa £400,000 due to the overrun, however, this was disputed by the client
The project was essentially completed on Friday 10'" July 2015 when practical completion took place {although acknowledgement was not received from the client) The directors had endeavoured to reach an amicable agreement with Beck without success Beck would not agree the EOT claim and they considered that no further payments were due to the Company
Administrators' statement of proposals (2015-08-20) · Companies House register