Kent Metal Developments Limited (02484051): administration
- Status
- Administration ended
- Administration began
- 2021-08-05
- Administrators
- Jonathan James Beard, John Walters
- Administrators' firm
- Begbies Traynor
- Incorporated
- 1990-03-22
- Location
- Brighton
- Industry
- 25990 Manufacture of other fabricated metal products n.e.c.
Why it went into administration
- HMRC / tax arrears
- COVID-19
- Cash flow / liquidity pressure
- Funding withdrawn / unable to refinance
- Loss of a key customer, supplier or contract
- Competition / price pressure
From the administrators' statement
The Company was incorporated in April 1990 by Tony France, a former director who is the stepfather of Philip James Chapman, a current director. The Company provides sheet metal work and metal fabrication services to manufacturers in the automotive industry.
The Company’s largest customers are biue chip companies and it provides both ongoing monthly contracts for those customers, as well as bespoke projects. Projects range from one-off manufacture of a few hundred pounds, to ongoing contracts with values in excess of £20,000 per month each.
The main core of business was laser cutting and press braking of sheet metal. The Company’s historic machinery was old and not cost efficient, so the Company had become uncompetitive in the changing market. Due to a decline in orders, in late 2017 the directors took the decision to invest heavily in new equipment. Crucially, the upgrade would also mean adding automation to the process
Administrators' statement of proposals (2021-08-19) · Companies House register