Pinnacle C.N.C. Limited (03658821): administration
- Status
- Administration ended
- Administration began
- 2015-07-24
- Administrators
- Mark John Colman
- Administrators' firm
- Leonard Curtis
- Formerly
- Factorarea Limited
- Incorporated
- 1998-10-29
- Location
- Preston
- Industry
- 25110 Manufacture of metal structures and parts of structures
Why it went into administration
- HMRC / tax arrears
- Funding withdrawn / unable to refinance
- Creditor pressure / legal action
- Loss of a key customer, supplier or contract
- Competition / price pressure
From the administrators' statement
31 The Company first began to encounter problems in 2008 when one of Its core customers lost a large contract to a Chinese competitor in order to accommodate the loss in revenue the Company refinanced its plant and machinery, re-mortgaged its property and reduced its work force by 50%
32 The business slowly recovered in the years following 2008 The recovery was however slower than anticipated as the business suffered as a result of losing a number of key staff during the reduction of tts workforce The business returned to profitability in 2012 and employed 32 staff
Joint Adminisirators’ Report and Proposals
Administrators' statement of proposals (2015-09-04) · Companies House register