SBS - Reinforcement Limited (02357185): administration
- Status
- Administration ended
- Administration began
- 2017-07-14
- Administrators
- Simon Franklin Plant, Daniel Plant
- Administrators' firm
- SFP Restructuring
- Formerly
- Stainless Parapet Co Ltd; Technical Fixings Limited; Structural Stainless Tubes Limited; Technical Fixings Limited; Fixings Wholesale Supplies Limited; Stainless Service Centre Limited; Rapid 7784 Limited
- Incorporated
- 1989-03-08
- Location
- Marsh Wall
- Industry
- 46900 Non-specialised wholesale trade
From the administrators' statement
Company into Administration are detailed in Section 3 of Appendix |.
1.3 In pursuing the second Administration objective, the Joint Administrators’ strategy was to Appendix | seek to achieve a sale of the business and assets on a going concern basis, as this would vastly improve the result for the secured creditor. The Joint Administrators have been unable to conclude a sale of the business and assets but, as explained in the Statement of Proposals, it is stil envisaged that the second Administration objective will be achieved. In the light of this, its assets will be sold on a piecemeal basis.
Section 5 1.4 The purpose of the Administration is still in the process of being achieved and there is still a significant amount of work to be undertaken. This includes debtor recoveries / sale of the assets / continued investigations into the Company's affairs and statutory reporting. On present information, there will not be a dividend to unsecured creditors.
Administrators' statement of proposals (2017-09-14) · Companies House register