Osborne Precision Sheetmetal Limited (02746716): administration
- Status
- Administration ended
- Administration began
- 2013-06-19
- Administrators' firm
- Harnsons Business Recovery and Insolvency
- Formerly
- Valuepanel Limited
- Incorporated
- 1992-09-11
- Location
- Reading
- Industry
- 33110 Repair of fabricated metal products
Why it went into administration
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Property / lease costs
From the administrators' statement
Following the management restructure the Company continued to trade successfully until 2010 when MS began suffering from ill health.
We are also informed that the Company’s trading was heavily impacted by the economic downturn and turnover fluctuated month to month, decreasing by 21% during the year ended 31 March 2012 resulting in a loss after tax
4.2
Administrators' statement of proposals (2013-08-16) · Companies House register