Paragon Precision Engineering Limited (03030465): administration
- Status
- Administration ended
- Administration began
- 2022-02-25
- Administrators
- Kirsty Swan, Conrad Alan Beighton
- Administrators' firm
- Leonard Curtis
- Incorporated
- 1995-03-08
- Location
- Birmingham
- Industry
- 32990 Other manufacturing n.e.c.
Why it went into administration
- COVID-19
- Funding withdrawn / unable to refinance
- Sustained trading losses
From the administrators' statement
The Company was incorporated on 8 March 1995 and its principal activities were a full-service engineering business. The Company specialised in precision engineering (metals and plastics) and sheet metal fabrication, operating out of two leased units.
The Company latterly traded from leasehold premises at Unit 8 and Unit 12b Lancaster Way, Ely CB6 3NW and employed 20 staff, including the three directors.
The Company had historically traded profitably until the year ended 30 April 2021, when tummover had reduced materially and a loss of £60k was recorded.
Administrators' statement of proposals (2022-03-18) · Companies House register