Ventalution Limited (04131307): administration
- Status
- Administration ended
- Administration began
- 2018-01-23
- Administrators
- Gary Paul Shankland, Kirstie Jane Provan
- Administrators' firm
- Begbies Traynor
- Formerly
- Ventalu Limited; Castletiger Limited
- Incorporated
- 2000-12-27
- Location
- London
- Industry
- 46740 Wholesale of hardware, plumbing and heating equipment and supplies
Why it went into administration
- Funding withdrawn / unable to refinance
- Loss-making contracts / project overruns
- Sustained trading losses
From the administrators' statement
The Company was incorporated on 27 December 2000 and had at various times operated as a manufacturer and installer of bathroom fittings and ventilation systems. Lately, the Company operated from premises owned by an associated company, as an installer of plastic ventilation systems into new build residential properties, serving a number of major construction industry clients.
The Company had no employees, but utilised labour and sub-contract resources via an associated company, as it did with management functions, both of which were paid by the Company by way of a management charge.
The Company’s financial position was supported by a debtor's facility and secured loan provided by the secured creditor, Archover, as well as borrowing from an unsecured creditor, Funding Circle.
Administrators' statement of proposals (2018-03-21) · Companies House register