Norstead Limited (03596379): administration
- Status
- Administration ended
- Administration began
- 2023-02-28
- Administrators' firm
- FRP Advisory
- Formerly
- Metnor Group Limited; Metnor Group PLC
- Incorporated
- 1998-07-06
- Location
- Newcastle upon Tyne
- Industry
- 43210 Electrical installation
Why it went into administration
- COVID-19
- Funding withdrawn / unable to refinance
- Loss of a key customer, supplier or contract
- Brexit
From the administrators' statement
The Company was incorporated on 6 July 1998 under company number 03596379. The Company’s registered office address at the appointment of administrators was Metnor House, Mylord Crescent, Killingworth, Newcastle upon Tyne, NE12 5YD. The Company employed 52 people and the directors were Adam Langman, Christopher Cant, Daniel Hopkins, Jack Rankin and Thomas Rankin. The Company is a subsidiary of Metnor Group Ltd.
The Company worked across the UK as a mechanical and electrical installation contractor, operating in sectors including but not limited to; healthcare, student accommodation, residential, leisure and commercial.
While the Company was historically profitable, the Company accounts YE 31 December 2020 show a loss for the financial year of £886,000. The Company returned to profit in 2021 with a profit of £133,000 was recorded in accounts ending 31 December 2021.
Administrators' statement of proposals (2023-05-01) · Companies House register