S.R. Harvey Electrical Limited (02181589): administration
- Status
- Administration ended
- Administration began
- 2011-07-11
- Administrators' firm
- Begbies Traynor
- Formerly
- Solebeck Builders Limited
- Incorporated
- 1987-10-21
- Location
- Southend
- Industry
- 4531
Why it went into administration
- Competition / price pressure
- Loss-making contracts / project overruns
- Property / lease costs
- Sustained trading losses
From the administrators' statement
41 SR Harvey Electrical Limited (“the Company”) commenced trading in 1979 and was incorporated in October 1987 The Company provided electrical contracting to the whole of the UK but predominately traded in London and the South The share capital has always been 100 ordinary shares of £1 each, dividend equally between Steven Harvey (“SH”) and Kim Harvey ("KH") who were also the Company’s Directors at the cessation of trade
42 — Inttal funding came by way of an unsecured loan from Lloyds TSB Bank Plc for £25,000, which the Company obtained soon after incorporation, and paid back a few years later Thereafter, cash flow was supported by an authorised overdraft facility for £60,000 which was always kept within comfortable limits and personally guaranteed by SH and KH
43 > Turnover stayed strong and in the early 1990's, the Company acquired a competitor that sold electrical items, domestic appliances and provided vanous repair services This company traded from their own retail premises, which the Company took over in addition to tts own freehold premises (which it owned)
Administrators' statement of proposals (2011-09-06) · Companies House register