J.S. Payne Limited (02617985): administration
- Status
- Administration ended
- Administration began
- 2015-07-15
- Administrators
- Peter Richard Dewey, David Hill
- Administrators' firm
- Begbies Traynor
- Formerly
- Filbuk 250 Limited
- Incorporated
- 1991-06-06
- Location
- Cardiff
- Industry
- 25110 Manufacture of metal structures and parts of structures
Why it went into administration
- Cash flow / liquidity pressure
- Creditor pressure / legal action
From the administrators' statement
The Company was incorporated in June 1991 and its pnnciple activity was that of Fabricators and Welders
Following incorporation the Company traded reasonably successfully and achieved steady growth in its customer base
However, by the end of 2010, the downturn in the economic climate had significantly affected the construction industry As a result, contracts would be agreed on small profit margins which were further eroded by increases in matenal and other costs The directors also noticed that debt collection was substantially slower than usual and delay by customers in settling invoices increased finance costs
Administrators' statement of proposals (2015-09-15) · Companies House register