# GDC Engineering Limited (03444544)

> Why UK company 03444544 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/03444544

- **Status:** Administration ended
- **Administration began:** 2022-03-15
- **Administrators:** Benjamin John Wiles, Geoffrey Wayne Bouchier
- **Administrators' firm:** Kroll
- **Formerly:** PFW Aerospace Engineering Limited; GCT Engineering Services Limited; Nevbright (72) Limited
- **Incorporated:** 1997-10-03
- **Location:** London
- **Industry:** 74100 specialised design activities

## Why it went into administration

- COVID-19
- HMRC / tax arrears
- Funding withdrawn / unable to refinance
- Creditor pressure / legal action

## From the administrators' statement

• Since the onset of the COVID-19 pandemic in 2020, there were reduced opportunities available to the Company as a result of the declining instructions from airlines. With drastically reduced flights, airlines were not investing in maintenance or modification work.

• Assuch, the Company was in need of investment. In April 2021 its US-based parent company, GDC Technics, entered Chapter 11 proceedings, which involved reorganising GDC Technics’ debts, assets and business affairs.

• Asaresult of the downturn in trade caused by COVID-19, the Company required GDC Technics’ support to remain viable. However, as a result of GDC Technics’ restructure, no additional funding was forthcoming for the Company and the Company was facing financial difficulty and increased creditor pressure.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/03444544/filing-history/MzMzNzU0NTg0MWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/03444544

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