Freshfield Contracting Limited (02102901): administration
- Status
- Administration ended
- Administration began
- 2012-11-28
- Administrators
- Arron Simon Kendall, Simon Robert Thomas
- Administrators' firm
- Begbies Traynor
- Formerly
- Freshfield Properties (Contracting) Limited
- Incorporated
- 1987-02-24
- Location
- London
- Industry
- 41100 Development of building projects
Why it went into administration
- Rising costs / inflation
- Loss-making contracts / project overruns
- Weather / natural events
From the administrators' statement
The Company was incorporated on 24 February 1987 and operated as a property developer
Begbies Traynor (Central) LLP ("Begbies Traynor") were initially approached by Clydesdale Bank Plc (‘the Bank") on 7 August 2012 to consider the Bank's options as regards their lending to the Company
The Bank had provided funding to the Company in 2005 to enable it to undertake a development in Eastbourne This was in two phases The first phase was the Club House and ground floor retail premises for the Sovereign Harbour Yacht Club which was successfully completed in December 2005 The second phase was a development of 24 harbour-side apartments with underground parking spaces Unfortunately, this phase suffered from projects delays resulting in a significant increase in costs
Administrators' statement of proposals (2013-01-25) · Companies House register