C & B Laminated Panels Limited (03942841): administration
- Status
- Administration ended
- Administration began
- 2015-12-03
- Administrators' firm
- Leonard Curtis
- Incorporated
- 2000-03-08
- Location
- Bristol
- Industry
- 32990 Other manufacturing n.e.c.
Why it went into administration
- Cash flow / liquidity pressure
- Loss of a key customer, supplier or contract
From the administrators' statement
C&B Laminated Panels was formed in 1975 as a panel fabrication business and became incorporated as a limited company in March 2000 Antony Page, the current director, and another member of staff (Judy Davies) took over the Company from the previous owners when they retired in 2005
The Company generally made good profits over the last 10 years, building on the established historic customer base as well as attracting new customers that have been coming back over many years with repeat orders Judy Davies resigned as a director in 2012 but continued on as an employee to manage the accounts and payroll until she left the Company completely in mid 2015
Around the same time, the Company started to experence serous cash flow problems This was solely due to the continued late and short payments from a major customer The Company undertook a detailed review of the debtor position and it was found that majonty of debts were moving from 30 to 60 days to overdue at around 100 days on average
Administrators' statement of proposals (2016-01-20) · Companies House register