Stef Concepts Limited (02772723): administration
- Status
- In administration
- Administration began
- 2008-01-24
- Administrators
- T Papanicola
- Administrators' firm
- Bond Partners
- Formerly
- Jointpromise Limited
- Incorporated
- 1992-12-11
- Location
- Birmingham Road Alcester
- Industry
- 2862
Why it went into administration
- Cash flow / liquidity pressure
- Loss of a key customer, supplier or contract
- Bad debts / customer insolvency
- Competition / price pressure
From the administrators' statement
Since Its incorporation in 1992, the Company has traded within the engineering and tool making sector, concentrating mainly on supplying local businesses
The Company traded profitably unti the first six months of 2003 when three major customers entered insolvency proceedings This negatively affected the Company’s cash flow, and the decision was taken to enter into a factoring agreement in order to ease the Company’s cash flow problems
The Directors were able to secure new business to replace the customers the Company had lost, however it continued to be hit by further bad debts as a result of long term customers being forced out of business
Administrators' statement of proposals (2008-03-27) · Companies House register