AEC Installations Limited (03328963): administration
- Status
- Administration ended
- Administration began
- 2014-09-10
- Administrators' firm
- Insolve Plus
- Incorporated
- 1997-03-06
- Location
- London
- Industry
- 43210 Electrical installation
Why it went into administration
- Cash flow / liquidity pressure
- Sustained trading losses
- Competition / price pressure
From the administrators' statement
The Company previously operated as a partnership for the |2 years prior to its incorporation as a Limited company on 6 March 1997 It traded as electrical installers on industrial, commercial and high end domestic projects
It operated from freehold premises at 58A Saxon Road, South Norwood, London, SE25 5EH (‘the Property”) Lloyds TSB Bank plc (“the Bank”) have security over the Property in the form of a mortgage which was created on 8 September 2000 and delivered on 12 September 2000 At the date of our appointment, the amount outstanding to the Bank, in relation to the Property, totalled approximately £85,320
The Bank provided a current account, which had a credit balance of £45,142 at the date of the Administration and credit cards with a credit limit of approximately £10,000 The Bank had a further fixed and floating charge over the Company’s assets which was created on 16 August 2000 and delivered on 22 August 2000 The Company also had use of an overdraft facility
Administrators' statement of proposals (2014-11-05) · Companies House register