K.A.P. Welding Services Ltd (04493253): administration
- Status
- Administration ended
- Administration began
- 2012-08-22
- Administrators
- Debi Harvey, Paul Robert Boyle
- Administrators' firm
- Harrisons Business Recovery and Insolvency
- Incorporated
- 2002-07-24
- Location
- Reading
- Industry
- 25110 Manufacture of metal structures and parts of structures
Why it went into administration
- Cash flow / liquidity pressure
- Creditor pressure / legal action
From the administrators' statement
PA and NH considered the Company’s position. It was under significant creditor pressure, there were a lack of orders being placed and the tenders for work which it had received would not, in thetr experience, provide the required profitable elements to justify proceeding. As a result they concluded that the Company was not viable and that they should seek independent advice from any insolvency practitioner.
The Directors contacted us directly and Debbie Harvey first met with them on 8 August 2012. At this meeting a review of the Company's position was conducted from the information available and it was concluded that the Company was insolvent within the meaning of Section 123 of the Insolvency Act 1986, in that it was unable to pay its debts as and when they fell due. However, because of the contractual nature of the sums payable to the Company, !t was necessary for a full review of the
4.2
Administrators' statement of proposals (2012-10-23) · Companies House register