Bright Engineering (North West) Ltd (03777640): administration
- Status
- Administration ended
- Administration began
- 2016-10-19
- Administrators
- Craig Johns, Jason Mark Elliott
- Administrators' firm
- Cowgill Holloway Business Recovery
- Formerly
- Bright Spark Precision Engineering Limited
- Incorporated
- 1999-05-26
- Location
- Bolton
- Industry
- 32990 Other manufacturing n.e.c.
Why it went into administration
- HMRC / tax arrears
- Cash flow / liquidity pressure
- Funding withdrawn / unable to refinance
- Creditor pressure / legal action
- Sustained trading losses
- Parent or group failure
From the administrators' statement
The Company was incorporated on 26 May 1999 by former Directors, Stephen Coates and John Hanson in the name of Bright Spark Precision Engineering Ltd, before changing its name to Bright Engineering (North West) Ltd in May
The Company provided machined components to a variety of different precision engineering sectors to include aerospace, power generation, defence, scientific and motorsport throughout the North West
In May 2014, the current directors, Jon Hoyle and Nigel Jenkins acquired the business At this time, funding was provided by way of invoicing finance, asset finance and personal monies provided by way of directors’ loan accounts
Administrators' statement of proposals (2016-11-04) · Companies House register