B-N Group Limited (03653243): administration
- Status
- Administration ended
- Administration began
- 2024-03-21
- Administrators
- Christopher Robert Pole, William James Wright
- Administrators' firm
- Interpath Advisory
- Formerly
- Timecraft Limited
- Incorporated
- 1998-10-21
- Location
- Birmingham
- Industry
- 30300 Manufacture of air and spacecraft and related machinery
Why it went into administration
- COVID-19
- Creditor pressure / legal action
- HMRC / tax arrears
- Sustained trading losses
- Weak consumer demand
- Funding withdrawn / unable to refinance
- Parent or group failure
From the administrators' statement
B-N Group Limited was incorporated on 21 October 1998. The Company was the parent of the Group.
3.2 Funding and financial position of the Company
The Group was impacted by the challenging trading conditions experienced since the commencement of the Covid-19 Pandemic. Compared to the period before the Covid-19 Pandemic, the Group experienced a reduction in demand and consequently sales, and a significant increase in its cost base.
Administrators' statement of proposals (2024-04-20) · Companies House register