Quality In Components Limited (03149439): administration
- Status
- Administration ended
- Administration began
- 2013-02-05
- Administrators
- Nathan Jones, Christopher Stirland, Philip Lewis Armstrong
- Administrators' firm
- FRP Advisory
- Formerly
- Quality Interior Components Limited
- Incorporated
- 1996-01-23
- Location
- Narborough Leicester
- Industry
- 25110 Manufacture of metal structures and parts of structures
Why it went into administration
- Competition / price pressure
From the administrators' statement
The Company was a specialist aluminium manufacturer supplying to the UK construction industry The Company was incorporated in 1996 and experienced growth year on year By 2003 the Company had reached turnover levels of £2.5M and good profit levels. Baris Group Limited, was a successful subcontractor that saw merit in a group manufacturing facility and acquired the Company In 2003, becoming the 100% shareholder.
From 2003 the business saw its business split 30/70 on historic core business to group work Inevitably the shift in the business towards group manufacturing of windows and curtain walls saw the Company’s work in progress and stock levels increase dramatically from its historic £400,000 to over £1,000,000 at any one time. This caused significant cashflow issues and working capital requirements increase. Turnover rose from £2.5M to an average of £6M per annum with the group trade providing in the region of 70% of the overall trade
The company extended 1s warehouse rental agreement to cope with increased demand from 2003 and then a further rental agreement to facilitate the group work from 2008.
Administrators' statement of proposals (2013-04-10) · Companies House register