Mcgrath Bros Engineering Group Limited (03622681): administration
- Status
- Administration ended
- Administration began
- 2018-06-26
- Administrators' firm
- KPMG
- Formerly
- Mcgrath Bros Engineering (London) Limited; Clamclay Limited
- Incorporated
- 1998-08-27
- Location
- Manchester
- Industry
- 25990 Manufacture of other fabricated metal products n.e.c.
Why it went into administration
- Loss-making contracts / project overruns
- Rising costs / inflation
- Sustained trading losses
From the administrators' statement
The Company was engaged as a sub-contractor in a number of steel fabrication contracts in the UK, however it was adversely affected by a number of issues including entering into loss making contracts, contract disputes and increased costs. As a consequence of this the company proposed a Company Voluntary Arrangement.
Company Voluntary Arrangement — 23 December 2014
The Company Voluntary Arrangement (“CVA”) was approved on 23 December 2014. Mr David McClean of Baker Tilly Mooney Moore was appointed as Supervisor of the CVA on that date. The CVA was subsequently terminated due to the inability of the Company to remedy a breach notified to the Statutory Directors on 15 February 2016.
Administrators' statement of proposals (2018-08-31) · Companies House register