# Tudorstone Building Materials Limited (03563607)

> Why UK company 03563607 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/03563607

- **Status:** Administration ended
- **Administration began:** 2012-05-28
- **Administrators:** Anthony Steven Barrell, David Matthew Hammond
- **Administrators' firm:** PwC
- **Incorporated:** 1998-05-14
- **Location:** Leeds
- **Industry:** 23320 Manufacture of bricks, tiles and construction products, in baked clay

## From the administrators' statement

The Company has been trading under difficult circumstances since the decline of the housing market in 2008. Immediately prior to the decline in the housing market, the Company purchased an automated brick production unit which was subject to asset finance agreements with HEF. In the period following the installation of the automated brick production unit the plant had only been operating at 45% of capacity, due to a decline in orders.

Support was provided by HEF and HSBC over the last 4 years as the Company had not been in a position to make capital or interest repayments against the asset finance facility in place with HEF as they fell due. The Company took steps to reduce costs during the period from 2008 to date in the hope that the market conditions would improve.

Unfortunately, market conditions did not improve and the directors became concerned about the poor level of trading at the end of February this year with production volumes down significantly compared to those in 2011. The directors took steps to closely monitor the situation during March and April.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/03563607/filing-history/MzA2MTI4OTMyMWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/03563607

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