Groundwork Bridgend and Neath Port Talbot (02388397): administration
- Status
- Administration ended
- Administration began
- 2014-11-06
- Administrators
- Edward Terence Kerr, Simon Edward Jex Girling
- Administrators' firm
- BDO
- Formerly
- Groundwork Bridgend and Neath and Port Talbot; Ogwr Groundwork Trust
- Incorporated
- 1989-05-24
- Location
- Bristol
- Industry
- 78109 Other activities of employment placement agencies
Why it went into administration
- Parent or group failure
From the administrators' statement
The Board of Trustees became concerned over the Trust’s cashflow and sought professional advice from BDO LLP (“BDO”) having been referred by the federation of Groundwork Trusts (the national body for Groundwork trusts).
The Trustees had identified falling income levels and increasing losses in the last two years The Trustees established that the Trust did not have sufficient funds to meet obligations as they arose. Of particular concern was the Trust’s inability to pay the wages that were due at the end of October.
A meeting was held on 16 October 2014 between BDO and representatives of the Board of Trustees at which the Trustees were advised of their options and indeed their obligations as Trustees given the apparent insolvency of the Trust.
Administrators' statement of proposals (2014-12-24) · Companies House register