Fabrication Facilities Limited (02785756): administration
- Status
- Administration ended
- Administration began
- 2019-02-14
- Administrators
- Craig Povey, Richard Howard Toone
- Administrators' firm
- Insolvency Practitioners of CVR Global
- Incorporated
- 1993-02-02
- Location
- Birmingham
- Industry
- 24420 Aluminium production
Why it went into administration
- HMRC / tax arrears
- Cash flow / liquidity pressure
- Loss of a key customer, supplier or contract
From the administrators' statement
3.1 In early 2017, Timothy Carrier unexpectedly passed away, with this loss placing a significant strain on the management of the Company, with Mr Brocklebank-Smith being left as the sole director to manage operations.
3.2 To try and address matters, and alleviate some of the difficulties that had arisen, a general manager was appointed on a short term basis to provide support to the management team, however, the Company’s problems were further exacerbated in jate 2017 with a key customer entering into Administration. This left the Company facing a significant loss on the works that remained unpaid for.
3.3. In early 2018, the Company’s contract with Carillion was stopped as a result of Carillion’s own insolvency. This left a significant gap in the Company’s cashflow, and as a result, it began to fall behind with its payments to HM Revenue and Customs (‘HMRC’).
Administrators' statement of proposals (2019-04-10) · Companies House register