ICT Networks Limited (03511101): administration
- Status
- Administration ended
- Administration began
- 2013-12-18
- Administrators
- John Malcolm Titley, Andrew Poxon
- Administrators' firm
- Leonard Curtis
- Incorporated
- 1998-02-16
- Location
- Manchester
- Industry
- 62090 Other information technology service activities
Why it went into administration
- Loss of a key customer, supplier or contract
- Cash flow / liquidity pressure
- HMRC / tax arrears
- Creditor pressure / legal action
- Sustained trading losses
- Competition / price pressure
From the administrators' statement
The Company was incorporated on 16 February 1998 and commenced to trade immediately, providing information and communication technology equipment, predominantly to the local public education sector
The Company historically traded from leasehold premises located in Hanley, Staffordshire We understand that the Company employed 13 people at the date of Administration
Historically the Company had traded successfully, building key client relationships in the local education sector However, in late 2010 a dispute occurred between the current and previous director/shareholders Following a resolution of the difficulties, three directors exited the business As a consequence, over the last three years the Company's turnover has reduced This was due in part to tough trading conditions and the resultant effect of the three director/shareholders exiting the business The Company was struggling to service its liabilities and as a result, entered into a Company Voluntary Arrangement ("CVA") in August 2012
Administrators' statement of proposals (2014-01-29) · Companies House register