Frame Wise Limited (03349873): administration
- Status
- Administration ended
- Administration began
- 2015-02-24
- Administrators
- Mark Malone, William John Kelly
- Administrators' firm
- Begbies Traynor
- Incorporated
- 1997-04-10
- Location
- Birmingham
- Industry
- 32990 Other manufacturing n.e.c.
Why it went into administration
- Bad debts / customer insolvency
From the administrators' statement
Frame Wise Limited was incorporated in April 1997 by Roger Simon Orrells and Jennifer Orrelis, who, together, had over 20 years of experience in the timber frame industry, to offer a bespoke timber frame service
With funding provided by its shareholders, the Company commenced trading in August 1997 from rented premises, which were later acquired, on the Presteigne industrial Estate providing timber frames to a variety of customers across the UK Customers included national contractors, local authorities and self builders with contract values ranging from £10,000 to £100,000
With demand for timber frame increasing, the Company needed to move to larger manufacturing facilites and employ additional staff In 2005, with a secured loan from the Company's banking prowders and other unsecured loans, the Company acquired a factory unit a short distance from the original site The Company's working capital was funded by an overdraft factlity provided by HSBC Bank pic
Administrators' statement of proposals (2015-04-27) · Companies House register