New View Window Systems Limited (04370858): administration
- Status
- Administration ended
- Administration began
- 2024-05-02
- Administrators
- Sean Williams, Richard Pinder
- Administrators' firm
- Leonard Curtis
- Incorporated
- 2002-02-11
- Location
- Leeds
- Industry
- 43390 Other building completion and finishing
Why it went into administration
- Creditor pressure / legal action
- HMRC / tax arrears
From the administrators' statement
The Company was incorporated on 11 February 2002 by Kevin Seddon and commenced trading shortly thereafter providing and installing UPVC window and doors to trade buyers and predominately construction companies. In February 2022, Carl Collett and Robert Felters as the ultimate beneficial owners of New View One Ltd purchased the shares from the then shareholders known collectively as Kevin Seddon and others.
Following receipt of a winding up petition Carl Collet, a director of the Company, approached Leonard Curtis to discuss the Company’s options. During a meeting with Sean Williams, of Leonard Curtis, he advised that the majority of the employees with the exception of the 4 head office staff were to be sent home as the Company did not have the funds available to pay further wages falling due after the payment of the current payroll on 28 March 2024 or to purchase new stock. However, an independent third party had approached him indicating that they were interested in acquiring the business and assets of the Company.
It was considered during discussions between the directors and Leonard Curtis that a sale of the business and assets of the Company as a going concern via Administration could result in a better outcome than should the Company do nothing and a winding up order be made. As such, the Company formally instructed Leonard Curtis on 9 April 2024 to assist with placing the Company into Administration and run an accelerated marketing campaign prior to the appointment of administrators.
Administrators' statement of proposals (2024-07-01) · Companies House register