Wiring Services Limited (04459877): administration
- Status
- Administration ended
- Administration began
- 2012-03-29
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2002-06-12
- Location
- Newcastle upon Tyne
- Industry
- 4531
Why it went into administration
- Cash flow / liquidity pressure
From the administrators' statement
The Company was part of a loose group with two sister companies, WH Dunn & Co Ltd and E-Wire Northern Limited The Companies operated independently as separate entities but they operated a Group banking facility
W H Dunn & Co Ltd had made lesses in the preceding twelve months of trading E-Wire Northern Limited was profitable and Wiring Services Limited was trading at approximately break-even All three Companies had expenenced a fall in tumover which was largely due to less contracts becoming available to tender for and the ones that were available had greatly reduced profit margins Overall the cash flow pressure for the Group was too great for the Companies to all continue to trade
The Directors also believe that additronal pressure was placed on the Companies’ cash flow after some debtors, who were aware of the Companies financial difficulties in the early part of the year, made short or late payments on outstanding contract debts
Administrators' statement of proposals (2012-05-29) · Companies House register