# Univel Limited (01991090)

> Why UK company 01991090 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/01991090

- **Status:** Administration ended
- **Administration began:** 2016-12-23
- **Administrators' firm:** FRP Advisory
- **Incorporated:** 1986-02-19
- **Location:** Brighton
- **Industry:** 18129 Printing n.e.c.

## Why it went into administration

- Cash flow / liquidity pressure
- Funding withdrawn / unable to refinance
- Loss of a key customer, supplier or contract
- Bad debts / customer insolvency
- Competition / price pressure

## From the administrators' statement

In 2016, it became apparent that the Company had been invoicing against work In progress and was drawing down against the invoices. A large proportion of the factored ledger was disallowed significantly diminishing the fevel of any further drawdowns available and having a critical effect on cash flow

Despite positive management accounts to month 6, the cash flow pressure created a rapid unauthorised overdraft position as a result of the following contributory factors:

* 3 customers lost in quick succession to a competitor;

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/01991090/filing-history/MzE2ODYwMTQ2MGFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/01991090

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