Field and Civil Engineering Limited (03944851): administration
- Status
- Administration ended
- Administration began
- 2022-11-10
- Incorporated
- 2000-03-10
- Location
- Driffield
- Industry
- 42990 Construction of other civil engineering projects n.e.c.
From the administrators' statement
For many years, the Company had traded successfully, establishing an extensive customer base in the construction of infrastructure for the civil engineering environment with the core business being construction of new roads and sewers, retaining walls and car parks and working with many of the nationally known house builders and supermarket chains.
In April 2021, lan Lishman (shareholder/director) decided to retire from the business with the intention that the remaining directors would implement a management buyout (“MBO”). However, the MBO did not proceed and the two then remaining directors resigned in September 2022, resulting in lan Lishman returning as a working managing director.
Upon his return, lan Lishman realised that the company was having significant cashflow . problems which affected the company’s ability to trade.
Administrators' statement of proposals (2022-12-23) · Companies House register