I S G Thermal Systems Limited (03132474): administration
- Status
- Administration ended
- Administration began
- 2011-04-07
- Administrators' firm
- Bridge Business Recovery
- Incorporated
- 1995-11-30
- Location
- London
- Industry
- 7487
Why it went into administration
- Funding withdrawn / unable to refinance
- HMRC / tax arrears
- Bad debts / customer insolvency
From the administrators' statement
The insolvency of the Company arose due to a number of events which combined to have a major effect on the Company and its cash flow
The first was a delay tn the receipt of a large order expected from the Italian navy, due to political issues within the Italan government
Secondly, a large order to be shipped to China, which was partially manufactured was postponed indefinitely This caused further strain on the Company's resources and left the Company with large amounts of unwanted stock
Administrators' statement of proposals (2011-06-14) · Companies House register