# Rigisystems Ltd (04137351)

> Why UK company 04137351 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/04137351

- **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- Credit insurance / supplier credit withdrawn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- Funding withdrawn / unable to refinance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

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/04137351/filing-history/MzEyNDcyNTE3M2FkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/04137351

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.