A.G. Shakespeare Limited (03596139): administration
- Status
- Administration ended
- Administration began
- 2012-11-02
- Administrators
- William John Kelly, Mark Malone
- Administrators' firm
- Begbies Traynor
- Formerly
- Event Developments Limited
- Incorporated
- 1998-07-09
- Location
- Birmingham
- Industry
- 82990 Other business support service activities n.e.c.
Why it went into administration
- Bad debts / customer insolvency
- Sustained trading losses
- Competition / price pressure
From the administrators' statement
A G Shakespeare Limited commenced trading in August 1998 providing a service for a core set of clrents as electrical engineering contractors The company had a running turnover at that point of £250,000 and over the following 11 years saw a steady and controlled growth reaching a peak turnover of £6,000,000
Economic changes in late 2009/early 2010 saw the industry severely affected by the onset of a recession Margins were eroded and competition increased as larger contractors started to target the market the company operated in The directors took the stance that they would not take work below cost and, as a consequence, the company saw a dramatic drop in turnover The company's financial position was reviewed at this point and changes were implemented to reduce the company's overheads
Unfortunately, as a consequence of the recession, a number of clients entered administration and ceased trading This led to an increase in bad debts and had an adverse affect on the company’s working capital in the initial stages these bad debts were absorbed as the company was in the financial position that it could do so although, coupled with the drop in turnover and the stance not to take work at below cost, made thts a difficult trading period
Administrators' statement of proposals (2013-01-08) · Companies House register