Pembar Limited (04089902): administration
- Status
- Administration ended
- Administration began
- 2023-05-15
- Administrators
- Lee Causer, Mark Thornton
- Administrators' firm
- BDO
- Incorporated
- 2000-10-13
- Location
- Liverpool
- Industry
- 31020 Manufacture of kitchen furniture
Why it went into administration
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
From the administrators' statement
During 2022, the Company invested in new machinery to meet an increased level of demand. However, the installation of new machinery resulted in quality issues and production delays, whilst delays to project commencement dates and difficulties in securing the required level of appliances caused projects to be unfinished.
These issues had a detrimental effect on the Company’s liquidity, which resulted in the Company exceeding its agreed overdraft facility provided by the Bank.
As a result of the above, BDO was engaged by the Company and the Bank on 1 November 2022 to undertake a review of the Company’s short-term cash flow forecast.
Administrators' statement of proposals (2023-07-05) · Companies House register