Tech Doors Limited (04418356): administration
- Status
- Administration ended
- Administration began
- 2014-06-17
- Administrators
- Stephen James Wainwright, Allan Christopher Cadman
- Administrators' firm
- Xeinadin
- Incorporated
- 2002-04-17
- Location
- Manchester
- Industry
- 16290 Manufacture of other products of wood; manufacture of articles of cork, straw and plaiting materials
Why it went into administration
- Creditor pressure / legal action
- HMRC / tax arrears
- Cash flow / liquidity pressure
- Property / lease costs
- Sustained trading losses
From the administrators' statement
The Company was incorporated on 17" Apnl 2002 The Company's principal objectives are those of the manufacture and fitting of kitchens, bedrooms and bathrooms and the Company has operated from rented premises situated at Hargreaves Street, Chadderton, Oldham, OL9 9ND
tnitially upon incorporation, the Company traded from premises located at Gladstone Street, Glodwick, Oldham, and moved to its current premises in 2005 Initially, the Company supplied trade only customers with kitchen and bedroom doors which were manufactured at the Company’s premises
In 2005, the Company invested in the purchase of new plant and equipment in the sum of approximately £450,000 which was funded by way of a 20% deposit and a balance by asset finance In the aftermath of the 2008 financial crisis, the Directors saw a decline in sales and took the decision to open a factory showroom and began to supply the general public In order to improve the Company's finances, in 2011 the Company sold plant and machinery no longer required and introduced the proceeds into the business as working capital
Administrators' statement of proposals (2014-08-01) · Companies House register