A.M. Fabrication (Northern) Limited (03707882): administration
- Status
- Administration ended
- Administration began
- 2021-07-15
- Administrators
- Andrew Little, Gillian Margaret Sayburn
- Administrators' firm
- Begbies Traynor
- Formerly
- Repairinner Limited
- Incorporated
- 1999-02-04
- Location
- Newcastle upon Tyne
- Industry
- 25990 Manufacture of other fabricated metal products n.e.c.
Why it went into administration
- COVID-19
- Sustained trading losses
- Funding withdrawn / unable to refinance
From the administrators' statement
The Company was originally operated by two directors, Michael Trueman and Anthony Nichol, who sold a majority stake to Consolidated Structures Limited, a company owned and operated by Peter Sykes. At the time the business was turning over circa £5m and making profits of around £500,000 per annum.
The business entered into a number of contracts which proved to be difficult to manage and significant losses were incurred. The Company also entered into an arbitration process and whilst they were hopeful of achieving an award of £1m this did not materialise and ultimately received less than £500,000. They also suffered a significant fall in new work with a reduction in new contracts following the retirement of the previous directors.
As with many businesses, the COVID-19 pandemic caused significant disruption to operations. The Company made use of the government support schemes with many employees being furloughed since March 2020.
Administrators' statement of proposals (2021-09-14) · Companies House register