Rigisystems Ltd (04137351): administration
- Status
- Administration ended
- Administration began
- 2015-04-02
- Administrators
- Edward Williams, Robert Neil Dymond
- Administrators' firm
- Grant Thornton
- Formerly
- Rigidal Systems Limited; Novelsign Limited
- Incorporated
- 2001-01-09
- Location
- Manchester
- Industry
- 25990 Manufacture of other fabricated metal products n.e.c.
Why it went into administration
- Competition / price pressure
- Cash flow / liquidity pressure
- Sustained trading losses
- Credit insurance / supplier credit withdrawn
- Rising costs / inflation
- Funding withdrawn / unable to refinance
- Creditor pressure / legal action
- Parent or group failure
From the administrators' statement
The Company was Incorporated in January 2001 and flourshed for many years and established a strong position in the roofing and cladding sector. Following this pertod of growth and stability it encountered a number of problems
{n 1999, an associated Company, Talfab Holdings Limited ("Talfab") had attempted to enter the composite panel market incurring a £3 5m capital outlay for production facilities, The main competitor who dominated the UK market was Kingspan A price war initiated by Kingspan followed and forced Talfab out of the market
Head Oftice The Manor House 260 Ecclesalt Road Sauth
Administrators' statement of proposals (2015-06-08) · Companies House register