Seating Systems Limited (04463160): administration
- Status
- Administration ended
- Administration began
- 2013-01-10
- Administrators
- Simon Campbell, Julie Anne Palmer
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2002-06-18
- Location
- Salisbury
- Industry
- 3611
Why it went into administration
- HMRC / tax arrears
- Property / lease costs
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Loss of a key customer, supplier or contract
From the administrators' statement
The Company traded as a manufacturer and supplier of bespoke and standard seats for auditoriums, educational establishments, stadiums and theatres © The Company was formed in 2002 latterly operating from White Horse Business Park, Trowbndge, Wiltshire
The reasons for the Company’s insolvency
The Company began to experience financial difficulties as a consequence of delays in a major customer contract The customer had a problem with their design team and the company had to reengineer The Company had moved premises to a larger facility to satisfy the customer and incurred all the attendant expense (treble rent, rates etc) with no contract income to cover same The Company has also experienced problems since 2010 with HMRC with a lot of estimated assessments and various returns not being made on time As a result, the Company experienced creditor pressure consisting of mounting HMRC liabilities and threats of distraint
Administrators' statement of proposals (2013-03-06) · Companies House register