Cathedral Interiors Limited (04914634): administration
- Status
- Administration ended
- Administration began
- 2012-02-23
- Incorporated
- 2003-09-29
- Location
- Driffield
- Industry
- 4525
Why it went into administration
- Loss-making contracts / project overruns
From the administrators' statement
Cathedral Interiors Limited traded as shop fitters, carrying out interior refurbishment and fit out works to retail and food and restaurant premises with contracts with larger corporate clients which included McDonalds, Gant UK, Morrisons, Roadchef and other clients
The director states that average contract values for works were between £100,000 and £800,000 and contract durations were between 2 weeks and 12 weeks
In late 2011, the company’s directors were advised by McDonalds that the company would not be involved in the McDonalds refurbishing programme for the next 12 month period which program for the company formed its core workload from which the company could trade and base its projected trading expectations Without this guaranteed workload from McDonalds the company had to rely upon ifs success in tender processes with McDonalds and Gant UK 1n its 2012 projections When these contracts were not won during December 2011] and into early January 2012 or were projected not to start until June 2012 or later, the prospect of the company trading on for much longer than to complete the existing contacts successfully and then having a gap of no work loomed large mn the directors’ minds prompting them to lay off staff during December 2011, and reduce immediate costs and then to seek advice
Administrators' statement of proposals (2012-04-27) · Companies House register