UK Window Systems Limited (04659150): administration
- Status
- Administration ended
- Administration began
- 2017-07-14
- Administrators
- Alan Brian Coleman
- Administrators' firm
- FTS Recovery
- Incorporated
- 2003-02-06
- Location
- Trinity Way
- Industry
- 32990 Other manufacturing n.e.c.
Why it went into administration
- Bad debts / customer insolvency
- Weak consumer demand
From the administrators' statement
During the last six months the Company has had a bad debt of c£80,000 and they have also had a problem with a customer and have supplied the product three times and the customer was still finding fault with the product. The Company was confident that the product is fit for purpose and meets the required standard, however, this has caused a further bad debt of circa £23,000.
The Company acquired a new machine last year which they financed using an unsecured loan from Funding Circle for the deposit of £40,000 and the balance has been financed with Close Brothers. Close Brothers have financed three pieces of kit and have a consolidation clause. The machine was acquired as the Company believed that there would be demand for UPVC windows that don’t have visible joints, however, the uptake for non-visible joints in UPVC windows has been slow and the turnover for these types of frames has been insufficient to cover the costs of this new machine.
Generally trade during February 2017 to May 2017 has been down on previous years and the Board puts this downturn down to the run up to the recent general election and the general uncertainty in consumer confidence.
Administrators' statement of proposals (2017-09-10) · Companies House register