# Botes Interiors Limited (02991774)

> Why UK company 02991774 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/02991774

- **Status:** Administration ended
- **Administration began:** 2015-10-05
- **Formerly:** Newco Interiors Limited
- **Incorporated:** 1994-11-18
- **Location:** London
- **Industry:** 82990 Other business support service activities n.e.c.

## Why it went into administration

- Funding withdrawn / unable to refinance
- Loss-making contracts / project overruns

## From the administrators' statement

The company specialised in commercial fit-outs, with some activity in the residential market \t traded profitably unt 2014, in which year it incurred losses of £163,259 The losses were the result of cost overruns on a number contracts and the consequent difficulty in agreeing final accounts

Profitability seemed to be improving in 2015 until the company encountered further difficulties on contracts in Southampton and Cardiff Matters came to a head in mid-September 2015 when the company was asked to start the next phase of the contract in Southampton The directors were concemed that the company would be unable to fund the cost (estimated at over £1 millon) while substantial amounts remained outstanding on this and other contracts

In their view, there was a serious risk that continuing to trade would result in greater losses for the creditors, than an Administration at that point

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/02991774/filing-history/MzE1OTYwMzczMWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/02991774

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