Uniglaze 2 (East Anglia) Limited (02296192): administration
- Status
- Administration ended
- Administration began
- 2012-10-15
- Administrators' firm
- KPMG
- Formerly
- Clinchfit Limited
- Incorporated
- 1988-09-14
- Location
- Birmingham
- Industry
- 23120 Shaping and processing of flat glass
Why it went into administration
- Cash flow / liquidity pressure
- Sustained trading losses
- HMRC / tax arrears
- Creditor pressure / legal action
- Bad debts / customer insolvency
- Competition / price pressure
From the administrators' statement
Uniglaze 2 (East Anglia) Limited’ was incorporated in 1988, having previously traded as a partnership from 1983 The Company’s principal activity was the manufacture and supply of glass units for incorporation into windows and doors in industrial, commercial and domestic properties Prior to Administratron, the Company had traded from two freehold sites in Norwich and employed approximately 280 people In addition, the Company also owned a frechold property at Bnckficlds Way, Thetford which 1s rented to a third party
Following incorporation, the Company grew significantly with sales of £26 8 million in 2004 and a profit before tax of £1.47 million in that year In carly 2005 the Company consolidated its operations into purpose built premises at Forest Way, Norwich and its existing premises at Spar Road, Norwich
Following the move to Forest Way in 2005, the Company made continuous year on year losses The disruption of the move reduced gross margins and increased other costs and consequently despite sales of £26 2 million the Company recorded a loss before tax of £60,000 1n the year to 31 July 2005 Further losses were also incurred in the years from 2007 to 2010 although a small profit was generated in 2006 The main factor influencing these losses was a significant reduction in gross margin from suppressed prices due to an increasingly competitive market As a result of these losses, the Company began to experience significant cash flow difficulties 1n 2010
Administrators' statement of proposals (2012-12-10) · Companies House register