David Harrison Building Contractors Limited (03621900): administration
- Status
- Administration ended
- Administration began
- 2015-06-23
- Incorporated
- 1998-08-26
- Location
- Sheffield
- Industry
- 41100 Development of building projects
Why it went into administration
- HMRC / tax arrears
- Creditor pressure / legal action
- Funding withdrawn / unable to refinance
- Bad debts / customer insolvency
From the administrators' statement
The Company was incorporated on 26 August 1998 and commenced trading from leasehold premises at 6 Rye Close, York Road Business Park, Malton, North Yorkshire, YO17 6YD Sean Harrison was appointed as a Director, along with his Mother and Father, Marion and David Harrison, upon incorporation The Company operated as a construction contractor which built both residential and commercial properties
The Company traded successfully for a number of years and tn late 2007, Sean Harrison took over the business from his parents via a management buyout (“MBO”) Marion and David Harrison subsequently resigned as Directors on 19 December 2007, leaving Sean as sole Director
Trading remained profitable for several more years, however, in recent times the Company had encountered difficulties and cash flow troubles due to a general downturn in the construction market, following the aftermath of the recession In order to gain contracts, the Company faced a necessity to lower its margins which caused a further strain on Its finances
Administrators' statement of proposals (2015-08-26) · Companies House register