WS Construction Limited (04999036): administration
- Status
- Administration ended
- Administration began
- 2014-01-28
- Administrators
- Simon Ashley Rowe, Timothy Alexander Close
- Administrators' firm
- Grant Thornton
- Incorporated
- 2003-12-18
- Location
- Taunton
- Industry
- 42990 Construction of other civil engineering projects n.e.c.
Why it went into administration
- Creditor pressure / legal action
- Sustained trading losses
From the administrators' statement
The Company was incorporated on 18 December 2003 and carried out the business of construction and civil engineering from tts trading premises The Company undertook work solely for the supermarket chain, Lidl! UK GmbH and related companies (‘Lidl”), and has undertaken both new build and extensions or alterations to existing shops The main contracts worked on in late 2013 were all due for completion prior to Christmas 2013
The director advises that a number of the contracts undertaken by the Company have been unprofitable, and in particular two contracts where new building costs were substantially underestimated 1n the original calculations, which resulted in significant losses being incurred by the Company
This resulted in significant cash flow issues meaning the Company could not meet tts liabilities as they fell due and led to increasing arrears owed to the Company’s trade creditors, including HM Revenue & Customs.
Administrators' statement of proposals (2014-03-27) · Companies House register