Askam Construction Limited (02078551): administration
- Status
- Administration ended
- Administration began
- 2014-04-15
- Administrators
- Samuel James Woodward, Thomas Andrew Jack
- Administrators' firm
- EY
- Incorporated
- 1986-11-28
- Location
- Manchester
- Industry
- 41201 Construction of commercial buildings
Why it went into administration
- Creditor pressure / legal action
- HMRC / tax arrears
- Bad debts / customer insolvency
From the administrators' statement
The Company was incorporated in 1986 as a civil engineering contractor, and it later diversified into construction Its head office was in Hampson, Lancaster, and at the date of appointment the Company was engaged on 14 active projects, employing 88 people
In addition to the core trading business, the Company also owned four residential investment properties and adjacent development land in Lancaster
The Company was funded through a combination of term loans, an overdraft facility and ancillary facilities including contingent bonds At the date of appointment the Bank was owed approximately £1 35m and the John Lowery Pension fund had secured debt of £0 2m As far as the Joint Administrators are aware, none of the Directors of the Company have given any personal guarantees in respect of the Company’s debts
Administrators' statement of proposals (2014-06-06) · Companies House register