Tudor Northwest Ltd (04659102): administration
- Status
- Administration ended
- Administration began
- 2017-07-28
- Formerly
- Tudor (NW) Ltd; Tudor Heating Services Limited
- Incorporated
- 2003-02-06
- Location
- Norwich
- Industry
- 43210 Electrical installation
Why it went into administration
- Competition / price pressure
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Bad debts / customer insolvency
From the administrators' statement
The Company was incorporated on 6 February 2003 and mainly carried out plumbing work for Wigan Council in schools and public buildings based in the Planned, Preventative & Maintenance (“PPM”) sector including boiler servicing and repairs. The Company won other PPM contracts with Warrington and Oldham Councils and tendered and carried out Boiler Room Replacement schemes in the school summer holidays. The Company continued to expand by securing similar contracts with “Blue Chip” companies such as DHL, Stage Coach and First Buses.
The Company then expanded into private sector installation contracts with the likes of .S.G and Lorne Stewart. A scheme was started with Lorne Stewart known as the “Salford Gateway Project” for the University of Salford but due to disputes Lome Stewart ceased making payments to the Company. Upon completion of this scheme in August 2016 the Company raised a final draft account for approximately £250,000 which was disputed and this matter eventually went to adjudication. A final decision was made in June 2017 awarding the Company payment of £35,711 plus VAT.
The non-payment of the Lome Stewart account caused the Company serious cash flow difficulties. The Company tried to plug the gap with funding from Funding Circle and factoring with Bibby Financial Services but the associated costs affected profitability and cash flow and did not benefit the Company as hoped.
Administrators' statement of proposals (2017-09-04) · Companies House register