D.R.B. Management Limited (04081078): administration
- Status
- Administration ended
- Administration began
- 2015-02-06
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2000-09-29
- Location
- Birmingham
- Industry
- 85600 Educational support services
Why it went into administration
- HMRC / tax arrears
From the administrators' statement
The Company provided strategic financial management services to schools, academies and governing bodies in the West Midlands It was founded in October 2000 in response to an ever-increasing demand from schools for independent financial management support A team of committed professionals from within the public and private sectors were employed to meet this need and to provide a consistent level of service
The Company traded successfully for ten years and was able to manage its cash flow on minimal working capital and banking facilites However, since 2010, the cash flow profile changed and more schools began paying in arrears on a monthly basis This meant the Company required working capital
Regrettably, business did not grow as anticipated and, although a profit was being made, It was not sufficient to build up a realistic working capital resource
Administrators' statement of proposals (2015-04-10) · Companies House register