Starc Engineering Limited (03541929): administration
- Status
- Administration ended
- Administration began
- 2014-08-01
- Administrators
- Glyn Mummery, Martin John Weller
- Administrators' firm
- FRP Advisory
- Incorporated
- 1998-04-07
- Location
- Brentwood
- Industry
- 82990 Other business support service activities n.e.c.
Why it went into administration
- HMRC / tax arrears
- Funding withdrawn / unable to refinance
- Creditor pressure / legal action
- Cash flow / liquidity pressure
- Sustained trading losses
From the administrators' statement
The Company was incorporated by the current director, Richard Millard (‘RM”), on 7 April 1998 and provided sheet metal engineering for retail lighting, cable trays and cable management systems, together with welding, fabrication, powdercoating and lasercutting services It traded from 2 leasehold premises based at 4 & 22 Twyford Business Centre, Herts.
For the most part, throughout the Company’s history, it traded on a satisfactory and profitable basis, employing 24 full time members of staff during tts busiest period. Following the economic recession in 2010, however, SEL began to suffer a downturn in work, particularly a lack of new work between November 2012 and April 2013.
At this time, the business had 20 members of staff and RM was aware that there was a need for the Company to reduce tts workforce in order to meet ongoing liabilities; however, due to the long periods
Administrators' statement of proposals (2014-09-01) · Companies House register