Universal Fixings Limited (02471947): administration
- Status
- Administration ended
- Administration began
- 2016-10-26
- Administrators
- Conrad Alan Beighton, Paul David Masters
- Administrators' firm
- Leonard Curtis
- Formerly
- Peacock Leisure Limited
- Incorporated
- 1990-02-20
- Location
- Birmingham
- Industry
- 32990 Other manufacturing n.e.c.
Why it went into administration
- Competition / price pressure
- Bad debts / customer insolvency
- Funding withdrawn / unable to refinance
- Creditor pressure / legal action
From the administrators' statement
The Company was incorporated in 1990 and traded as a manufacturer and supplier of pipework supports Recently, it has traded from leasehold premises in Cradley Heath
The Company has histoncally traded profitably and, between 2010 and 2015, it expanded to produce bespoke modular systems for the mechanical services sector The effect of this was to imcrease tumover and profitability, however, this work ceased in 2015 after Seating 2000 Ltd, an associated company, was placed into administration following a large bad debt
The directors have since continued to mject cash into the business in order to meet the Company's obligations to its creditors, however, this was not sustainable
Administrators' statement of proposals (2016-12-06) · Companies House register