Dodds Roofing Services Limited (04404177): administration
- Status
- Administration ended
- Administration began
- 2014-01-27
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2002-03-26
- Location
- Manchester
- Industry
- 43910 Roofing activities
Why it went into administration
- Creditor pressure / legal action
- Cash flow / liquidity pressure
From the administrators' statement
The Company ts a long established roofing contractor and renewable energy supplier The Company traded from freehold premises in Dnffield, East Yorkshire and covered the Yorkshire area The business of the Company was split into three sections being roofing contracting, solar PV and biomass systems The Company employed c15 staff and annual tumover was in the region of £7 million
The Company began to experience financial difficulties as a consequence of significant disputed debts relating to the installation of biomass systems As a result, the Company expenenced severe creditor pressure which would have ultimately resulted in the commencement of winding up proceedings, withdrawal of credit terms from suppliers, commencement of fegal actons and the issue of further County Court Judgements
In order to safeguard the Company's position the directors sought professional advice The Company was solvent on the basis that it was unable to pay its debts as and when they fell due, and the primary reason for the Company's insolvency was the disputed debtors (c£350k) However, it was recognised that there was a viable business within the Company that could be rescued
Administrators' statement of proposals (2014-02-20) · Companies House register