Bibby Hydromap Limited (03408060): administration
- Status
- Administration ended
- Administration began
- 2020-04-03
- Administrators' firm
- KPMG
- Formerly
- Osiris Hydrographic & Geophysical Projects Limited
- Incorporated
- 1997-07-24
- Location
- Manchester
- Industry
- 09100 Support activities for petroleum and natural gas mining
Why it went into administration
- Funding withdrawn / unable to refinance
- Sustained trading losses
- Loss-making contracts / project overruns
- Cash flow / liquidity pressure
- Weather / natural events
- Loss of a key customer, supplier or contract
From the administrators' statement
The Company was incorporated on 24 July 1997 and was a marine survey, data processing and reporting business which operated predominantly within the UK and Northern Europe.
The Company operated a fleet of four marine vessels that were equipped with specialist surveying equipment that was used to map data from the seabed. This data was then typically processed by staff located at the Company’s head office in Bromborough, Wirral before a final report was provided to the end customer.
The Company owns the shares of two subsidiary companies Bibby Athena Limited (‘Bibby Athena’) and Bibby Tethra Limited (‘Bibby Tethra’) which are both special purpose vehicles that each own a marine vessel.
Administrators' statement of proposals (2020-06-05) · Companies House register