From the administrators' statement

The company was incorporated on 20 August 2003 and carried out ground work and civil engineering work, much of which was for large construction companies

The Company has recently suffered a number of bad debts including one to ROK In addition to this, some customers had been withholding payment once a job had been completed knowing that the Company did not have the resources to take any legal action

The directors were of the opinion that as a result of bad debts the financial pressures on the Company would increase in the foreseeable future

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Groundpoint Limited (04872109)

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