Optimum Cooling Limited (03484427): administration
- Status
- Administration ended
- Administration began
- 2013-10-07
- Administrators
- Anthony John Wright, Jason Daniel Baker
- Administrators' firm
- FRP Advisory
- Incorporated
- 1997-12-22
- Location
- London
- Industry
- 43210 Electrical installation
Why it went into administration
- HMRC / tax arrears
- Creditor pressure / legal action
- Cash flow / liquidity pressure
- Bad debts / customer insolvency
- Sustained trading losses
From the administrators' statement
The Company was formed in 1997 and traded as a commercial air conditioning and refrigeration contractor. Jt carned out maintenance services and installation works in East Anglta and London,
It had been profitable over the four years prior to Administration with one exception (2011), and according to the latest annual accounts to 30 June 2012 filed at Companies House, held retained profits of £928,000
The directors informed us that over the previous year a number of significant projects were delayed due to the general economic conditions. In addition, work won despite in some cases being of significant revenue value, was fow margin. Profitability was also impacted by bad debts.
Administrators' statement of proposals (2013-12-10) · Companies House register