TC Power Limited (04182459): administration
- Status
- Administration ended
- Administration began
- 2012-07-18
- Administrators' firm
- Deloitte
- Incorporated
- 2001-03-19
- Location
- Leeds
- Industry
- 33160 Repair and maintenance of aircraft and spacecraft
Why it went into administration
- HMRC / tax arrears
- Cash flow / liquidity pressure
- Creditor pressure / legal action
From the administrators' statement
The Company faced a downturn in trading as a result of a slowdown in order intake resulting in cash flow difficulties Deloitte was engaged in February 2012 by the Bank to complete a short term cash flow review of the Company and again for the Bank in early July 2012, to perform an options review
HMRC presented a winding up petition to the Company on 6 July 2012 for a debt due of £365,152 29. The directors concluded that there was no prospect of settling the HMRC debt by the court hearing date on 20 August 2012 and consequently, the directors took the decision to invite the Bank as QFCH to appomt the Administrators on 18 July 2012
Administrators' statement of proposals (2012-09-18) · Companies House register