Drivepoint Contractors Limited (04174940): administration
- Status
- Administration ended
- Administration began
- 2021-03-25
- Administrators
- Steve Baluchi, Christopher David Stevens
- Administrators' firm
- FRP Advisory
- Incorporated
- 2001-03-07
- Location
- Brighton
- Industry
- 42990 Construction of other civil engineering projects n.e.c.
Why it went into administration
- Loss of a key customer, supplier or contract
From the administrators' statement
In the lead up to the appointment of Administrators, certain contracts were in the process of being completed or being wound down, with subcontractors’ contracts terminated accordingly.
The Company was closely monitoring cash requirements in order to avoid unnecessary cash expenditure.
The director sought advice from FRP on 1 March 2021, having been referred to us by his bookkeeper. By this point, the majority of contracts were in the process of being wound down as the Company was unable to continue to pay its contractors.
Administrators' statement of proposals (2021-05-19) · Companies House register