Goodridge Engineering Ltd (03005000): administration
- Status
- Administration ended
- Administration began
- 2015-02-25
- Administrators
- Victor Henry Ellaby, Peter Richard James Frost
- Formerly
- Donald Edward International Limited
- Incorporated
- 1994-12-23
- Location
- Cheltenham
- Industry
- 28990 Manufacture of other special-purpose machinery n.e.c.
Why it went into administration
- Loss of a key customer, supplier or contract
From the administrators' statement
The company traded successfully for a number of years as a designer and manufacturer of precision tooling and in particular press tools used in the assembly of window profiles, manhole cover lifting equipment and other products
The Director had been involved in manufacturing for over 40 years, has considerable experience in running a manufactunng facility and a number of contacts across industry The company was structured so that most, if not all, manufacturing was kept in house as machinery was readily available to be used
In recent years the Director started to take steps towards retirement and elements of the business were sold In 2011 an agreement was reached with a 3” party investor to purchase 50% of the company It was intended the investor would provide cash flow to finance the business and allow the Director to work down to retirement
Administrators' statement of proposals (2015-05-06) · Companies House register