Bradway Construction Limited (04276540): administration
- Status
- Administration ended
- Administration began
- 2011-07-29
- Administrators
- Adrian Graham, Robert Alexander Henry Maxwell, Rob Sadler
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2001-08-24
- Location
- Leeds
- Industry
- 4521
From the administrators' statement
The Company began to experience financial difficultes as a consequence of the general economic downturn and It providing funding to Bradway Construction 2006 Limited for the development of Kent Road
In January 2011, BTG Restructuring, a division within Begbies Traynor Group, was approached by the Company and the Company's secured lender, Lloyds Banking Group (“the Bank”), to undertake a short term cash flow review of both companies and provide recommendations to the Company The findings of this review were reported both to the Company and the Bank accordingly
In July 2011, the directors of the Company approached Begbies Traynor in order to seek further advice as the Company was unable to service its bank debt or pay employee wages It was concluded that the Company was insolvent on both a cash flow and balance sheet basis Accordingly in order to safeguard the Company's position the Company presented a Notice of Intention to Appoint Administrators on 21 July 2011
Administrators' statement of proposals (2011-09-29) · Companies House register