Broadley Roofing Ltd (04523289): administration
- Status
- Administration ended
- Administration began
- 2019-02-20
- Administrators
- Charles Howard Ranby-Gorwood
- Administrators' firm
- CRG Financial Recovery
- Incorporated
- 2002-09-02
- Location
- Grimsby
- Industry
- 43910 Roofing activities
Why it went into administration
- Creditor pressure / legal action
From the administrators' statement
The Company had completed a contract in Leeds for a main contractor of some £700,000 value, excluding extras and final valuations. It then became apparent that the final expected funds of some £180,000 were not being paid, although the Company could not accept the reasons being provided.
With trade creditors of some £300,000 outstanding, there was a clear cash flow inability to continue to trade. The Company also had further work being conducted for a second client, and this work was substantially ceased, with the client arranging their own completion of the work. Further materials could not be purchased or wages paid, without further working capital, and it was clear that trading would cease.
Almost simultaneous to the above, the Company had been made aware on 7" February 2019, by its solicitors, that there was a legal claim to commence in respect to an accident that had occurred during 2016. The Company had already been fined some £45,000, with £15,000 of this having been paid, and the balance being paid by monthly instalments.
Administrators' statement of proposals (2019-04-26) · Companies House register