Commercial Marine & Piling Limited (02620547): administration
- Status
- Administration ended
- Administration began
- 2016-05-09
- Administrators' firm
- Kroll
- Formerly
- Commercial Underwater Contractors Limited
- Incorporated
- 1991-06-14
- Location
- London
- Industry
- 41201 Construction of commercial buildings
Why it went into administration
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- HMRC / tax arrears
- Creditor pressure / legal action
- Loss-making contracts / project overruns
- Competition / price pressure
- Sustained trading losses
From the administrators' statement
Statutory information on the Company and a summary of Its financial history 1s included at Appendix 1
The Company was incorporated on 14 June 1991 and up until 1995 the Company operated solely as an aquatic construction company, expanding and diversifying its service offering in 1995 to include sheet piling and land construction services
The Company employed 53 full tme staff, with 25 employees split across the Freehold Property and Leasehold Properties and 28 across the various contract sites where works are undertaken
Administrators' statement of proposals (2016-05-25) · Companies House register