# Pinnacle C.N.C. Limited (03658821)

> Why UK company 03658821 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/03658821

- **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- Funding withdrawn / unable to refinance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

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/03658821/filing-history/MzEzMDQwMTI4MGFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/03658821

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.