Dentafix (UK) Limited (03625950): administration
- Status
- Administration ended
- Administration began
- 2013-03-11
- Administrators' firm
- Harrisons Business Recovery and Insolvency
- Formerly
- Enfranchise 294 Limited
- Incorporated
- 1998-09-03
- Location
- Reading
- Industry
- 28990 Manufacture of other special-purpose machinery n.e.c.
Why it went into administration
- Competition / price pressure
From the administrators' statement
The Company had experienced increasing tevels of competition in its marketplace during its trading life and sales had begun to decline as a result. Following the economic downturn in 2008, thts was accentuated by both further market decline and in particular reductions in public spending tn many markets.
The Company’s weakening financial outlook was further exacerbated in the past few months by the concluston of a major supply contract with an American customer, which led to further significant decline In volume and reduction in margin The directors began to make efforts to sell the business as a going concern and initial interest was encouraging
Following worse than expected trading results for the month of February 2013, and an unexpected breakdown in negotiations with an interested party with regard to a proposed sale of the business, Whites had serious concerns regarding the viability of the business in the short to medium term and approached Paul Boyle and David Clements of Harrisons Business Recovery and Insolvency Limited to provide advice on the situation
Administrators' statement of proposals (2013-05-16) · Companies House register