# TEG Energy Limited (05006553)

> Why UK company 05006553 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/05006553

- **Status:** Administration ended
- **Administration began:** 2014-12-19
- **Administrators:** Daniel James Mark Smith, William Kenneth Dawson
- **Administrators' firm:** Deloitte
- **Formerly:** Banham Compost Limited
- **Incorporated:** 2004-01-06
- **Location:** Manchester
- **Industry:** 38210 Treatment and disposal of non-hazardous waste

## Why it went into administration

- Loss-making contracts / project overruns
- Funding withdrawn / unable to refinance
- Sustained trading losses

## From the administrators' statement

The Group has been loss making for a number of years and reported a loss before tax in its audited financial statements in each of the last four years (2013 £2,678k, 2012 £1,279k, 2011 £8,004k, 2010 £628k)

The Group faced considerable financial uncertainty arising from a contract with Costain to build 4 IVC facilities as part of the Greater Manchester Waste Contract In particular

* c£2 8m of retentions held by Costain under the contract for over two years, and

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/05006553/filing-history/MzExNjgyNDg2MGFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/05006553

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.