# 01916346 Limited (01916346)

> Why UK company 01916346 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/01916346

- **Status:** Administration ended
- **Administration began:** 2013-10-22
- **Administrators' firm:** Deloitte
- **Incorporated:** 1985-05-23
- **Location:** Cardiff
- **Industry:** 42990 Construction of other civil engineering projects n.e.c.

## Why it went into administration

- Loss of a key customer, supplier or contract
- Sustained trading losses

## From the administrators' statement

The decline in the Company's trading performance since August 2011 was primarily caused by the loss of a major contract (with the Company entering an adjudication process over disputes with the client) and the impact of another major on-going contract operating at a significant loss This client was unwilling to renegotiate to agree new terms on the latter contract contributing to negative gross margins over the 8 months to August 2013

The Company's head office function, structured towards a £65m annual turnover business, became unsupportable by the reduced revenue/margin levels and the Directors were unable to matenaily restructure the cost base

In September 2013, the Secured Creditor injected over £1m to allow the Company to continue to trade, whilst options including a potential sale of the Company were explored Interest in some of the Company's business and assets was demonstrated by a prospective purchaser, however no viable offers were received

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/01916346/filing-history/MzA5MDExMzQzNmFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/01916346

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.