From the administrators' statement

The Company was established in 2001 by the Company’s Managing Director, Tim Homer, who has over 20 years recruitment experience within the engineering and construction industries. The Company had been consistently profit making up until this year.

Begbies Traynor were introduced to the Company in December 2019 by the incumbent lenders, Close Brothers Limited (“Close”). The invoice finance facility at the time was operating at a nearly fully drawn down rate and the Company had material HMRC arrears.

This build up of liabilities had arisen due to previous under-performance caused by a breakdown in the relationship between Mr Homer and his former business partner. The previous partner has since left the business, leaving Mr Homer to run the business on his own.

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Apex Engineering Solutions Limited (04227729)

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