East Lancashire Fabrications Limited (04808219): administration
- Status
- Administration ended
- Administration began
- 2016-08-10
- Administrators
- Lisa Marie Moxon, Christopher Benjamin Barrett
- Administrators' firm
- Dow Schofield Watts
- Incorporated
- 2003-06-23
- Location
- Warrington
- Industry
- 24100 Manufacture of basic iron and steel and of ferro-alloys
Why it went into administration
- Sustained trading losses
- Cash flow / liquidity pressure
- Competition / price pressure
From the administrators' statement
The Company was incorporated on 23 June 2003 with Peter John Summers and Michael John Summers appointed as the directors and holding 75% and 25% of the issued share capital respectively
The Company purchased the business and assets of Summer Sheet Metals Limited, a connected company that had gone into [tquidation
To assist with working capital requirements of the business, in October 2003, Aldermore Invoice Finance Limited (Formerly Catties Invoice Finance Limited} (“Aldermore”) provided the Company with an invoice discounting facility Aldermore was granted a debenture on 27 October 2003 creating fixed and floating charges over the assets of the Company Further security was provided by a personal guarantee from the director, Michael Summers which was limited to £50,000
Administrators' statement of proposals (2016-10-17) · Companies House register