Baris Facades & Linings Limited (04357601): administration
- Status
- Administration ended
- Administration began
- 2013-02-05
- Administrators' firm
- FRP Advisory
- Formerly
- Baris Facades Limited
- Incorporated
- 2002-01-22
- Location
- Leicester
- Industry
- 43999 Other specialised construction activities n.e.c.
Why it went into administration
- Sustained trading losses
- Competition / price pressure
From the administrators' statement
The Company was a specialist subcontractor designing, manufacturing and installing facade, roofing and internal partitions The Company had enjoyed many years of success, being incorporated in 1986 with the business entering the AIM on the London Stock Exchange in 1989 and was the subject of an MBO in 1998 lead by Terry Damms who was at the company since its inception.
From 2007 to 2009 the business saw its work split 50/50 on internals to fagade works but as the economic climate turned tn 2008 internal drylining works became very competitive and the company concentrated more on the facade works seeing 95% of its business secured in that sector. The Company experienced a difficult trading period in 2009 and took a decision. to invoke a series of redundancies streamlining and restructuring the management team as the economic climate was beginning to worsen At this time its senior debt providers reviewed the business and requested reduction on its overall lending package.
FRP AdMsory LLP is Incomorated in England and Woles under the Limited Liability Parinerships Act 2000 as a Limited Liobity Parinership Partnership Number OC355680 Regssteted office 10 Fumival Street London ECA 1YH A Ist of members names ls open to Inspection at this address www frpadivisarycom
Administrators' statement of proposals (2013-04-09) · Companies House register