Mixit Concrete Ltd (04601624): administration
- Status
- Administration ended
- Administration began
- 2024-05-08
- Administrators
- Alan John Clark
- Administrators' firm
- Leonard Curtis
- Formerly
- Modern MIX Limited; Teerem Limited
- Incorporated
- 2002-11-26
- Location
- Ilford
- Industry
- 23630 Manufacture of ready-mixed concrete
Why it went into administration
- Property / lease costs
- Creditor pressure / legal action
- Bad debts / customer insolvency
- Regulatory change or action
From the administrators' statement
Due to the mounting creditor pressure, initial discussions took place with the directors and Carter Clark in November 2023 in respect of re-financing options to support the business as the directors believed trading conditions would improve.
A director personally injected substantial funds in the interim whist he sought long term finance. Due to a change in market conditions, the directors subsequently approached Carter Clark in April 2024 to provide advice on the insolvency options available.
The directors were advised to start the consultation process with employees if they felt it was likely that redundancies would be made.
Administrators' statement of proposals (2024-07-01) · Companies House register