Lymington Boat Makers Ltd (03177988): administration
- Status
- In administration
- Administration began
- 2024-03-21
- Administrators
- Nicola Elaine Layland, Carl Derek Faulds
- Administrators' firm
- Leonard Curtis
- Formerly
- Scorpion Ribs Limited; South Coast Ribs Limited
- Incorporated
- 1996-03-26
- Location
- Fareham
- Industry
- 30120 Building of pleasure and sporting boats
Why it went into administration
- COVID-19
- Sustained trading losses
- Rising costs / inflation
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Loss-making contracts / project overruns
- Regulatory change or action
From the administrators' statement
The director has provided a summary of the history of the company as set out below.
2.1.4
2.1.2
Administrators' statement of proposals (2024-05-22) · Companies House register