# I S G Thermal Systems Limited (03132474)

> Why UK company 03132474 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/03132474

- **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- Funding withdrawn / unable to refinance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

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/03132474/filing-history/MzAzODgwNzU3NmFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/03132474

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