Gage Engineering Limited (02269193): administration
- Status
- Administration ended
- Administration began
- 2014-02-03
- Administrators
- David Simon Matthew Edwards
- Administrators' firm
- Aaron and Partners
- Incorporated
- 1988-06-20
- Location
- Chester
- Industry
- 25110 Manufacture of metal structures and parts of structures
Why it went into administration
- HMRC / tax arrears
- Sustained trading losses
From the administrators' statement
The Company entered a Voluntary Arrangement on 18 Apni 2013, pnor to the acquisition of its holding company by 1878 and the appointment of Mr O’Hare as director The Supervisors are Andrew MacKenzie and Robert Maxwell of Begbtes Traynor Group, Leeds The Administrator has had no involvement in that CVA The Administrator has been informed that the CVA has been terminated by the Supervisors with effect on 3 February 2014
The Company had high levels of histone debt, having made significant trading losses prior to the CVA Both customers and suppliers proved reluctant to deal with the Company ina CVA and the Company continued to make losses The Company was unable to secure the further working capital essential for on-going trading it was unable to make all payments due under the CVA Prior to the appointment of the Admunistrator, the Company had ceased to trade
8 HMRC, as an unsecured creditor, issued a warning that a petition for winding up would be presented against the Company if arrears of VAT were not cleared by 4 February In January 2014 1878 demanded repayment of its loans to the Company which the Company was unable to do, leading to the appointment by 1878 of the Administrator
Administrators' statement of proposals (2014-04-09) · Companies House register