# Longcross Group Limited (03375630)

> Why UK company 03375630 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/03375630

- **Status:** Administration ended
- **Administration began:** 2015-06-29
- **Administrators' firm:** Deloitte
- **Incorporated:** 1997-05-23
- **Location:** Birmingham
- **Industry:** 41100 Development of building projects

## Why it went into administration

- Loss-making contracts / project overruns
- Parent or group failure

## From the administrators' statement

The nature of LXG's operations was principally that of a holding company for the Group, providing shared services to its subsidiaries and recently LXG had also become the primary contractor for several construction and refurbishment contracts

The Group had shared banking arrangements All companies in the group had access to a £7 2m overdraft facility with the secured lender, Lloyds Banking Group “LBG”

When LXC entered administration, it had drawn c £5 2m of the overdraft and the financial position of LXC was rapidly deteriorating due to ongoing project losses

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/03375630/filing-history/MzEyOTk4NTcwMGFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/03375630

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