# Balli Steel PLC (03418142)

> Why UK company 03418142 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/03418142

- **Status:** Administration ended
- **Administration began:** 2013-03-20
- **Administrators:** Ian Colin Wormleighton, Nicholas Guy Edwards
- **Administrators' firm:** Deloitte
- **Incorporated:** 1997-08-06
- **Location:** Birmingham
- **Industry:** 46900 Non-specialised wholesale trade

## Why it went into administration

- Creditor pressure / legal action
- Loss of a key customer, supplier or contract
- Bad debts / customer insolvency

## From the administrators' statement

The directors attribute the failure of the Companies to a decline in business in traditional markets, reduced finance facilities and the impact of a series of unsuccessful investments in non-core areas, in particular in aviation and property investment

The directors estimate that BSP, which was the principal trading entity, suffered losses of c$137m during the 13% months to 15 February 2013 (being around the date the Administration applications were made) as a result of

¢ a reduction in financing facilties and consequent trading volumes resulted in an operating loss of c $26m,

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/03418142/filing-history/MzA3NzQwNzMwNmFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/03418142

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