# J.S. Payne Limited (02617985)

> Why UK company 02617985 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/02617985

- **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

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/02617985/filing-history/MzEzMDk4NjYxNGFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/02617985

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.