HI Tech Access Covers Limited (03130910): administration
- Status
- Administration ended
- Administration began
- 2016-10-17
- Administrators
- Nicholas Charles Osborn Lee, Dean Anthony Nelson
- Administrators' firm
- Smith Cooper
- Formerly
- Wrekin Fabrications Limited
- Incorporated
- 1995-11-27
- Location
- Birmingham
- Industry
- 25990 Manufacture of other fabricated metal products n.e.c.
Why it went into administration
- Cash flow / liquidity pressure
From the administrators' statement
On 30 August 2016, Nicholas Charles Osborn Lee was invited to attend a meeting with the Company’s management, and, WPL The Company’s management had identified a decline in the Company’s sales order book which could result in the Company having insufficient working capital to continue to trade
Subsequently, on 20 September 2016, Smith Cooper was instructed by the Company to advise and assist the Director in marketing the Company’s business and / or assets for sale in accordance with SIP 16 and 1n contemplation of a pre-packaged sale.
A sales flyer was prepared and sent to over 600 parties who were either local to the Company, in a similar sector to the Company, or, parties otherwise known to us to be interested in acquiring financially distressed business A sales pack of information was prepared ready for submission to any interest parties
Administrators' statement of proposals (2016-12-22) · Companies House register