RDS Engineering Ltd (03693860): administration
- Status
- Administration ended
- Administration began
- 2013-12-13
- Administrators
- Steven Phillip Ross, Ian William Kings
- Administrators' firm
- RSM
- Incorporated
- 1999-01-11
- Location
- Sunderland
- Industry
- 25620 Machining
Why it went into administration
- Cash flow / liquidity pressure
- Competition / price pressure
From the administrators' statement
As the majority of creditors are aware the Company entered into a Company Voluntary Arrangement (“CVA”) with its creditors on 6 January 2011 Despite the Company maintaining its CVA contributions it has encountered trading difficulties due to the constraints of the CVA In addition it has suffered a down turn in trade due to increased competition in the market As a result the Company has experienced significant cash flow difficulties, which has led to arrears accruing with HM Revenue & Customs
Asummary of the Company's recent trading performance is shown below
Unaudited Unaudited
Administrators' statement of proposals (2014-02-28) · Companies House register