M3 Solutions Limited (05043814): administration
- Status
- Administration ended
- Administration began
- 2017-12-08
- Administrators
- Irvin Milton Cohen, Gary Paul Shankland
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2004-02-13
- Location
- London
- Industry
- 47990 Other retail sale not in stores, stalls or markets
Why it went into administration
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
From the administrators' statement
The Company was incorporated on 13 February 2004 and provided a range of services to its clients, with principle revenue streams being the provision of office furniture, internal office fit outs and the installation of solar panels.
Contractors and suppliers were utilised by the Company to carry out the building works and manufacturing with the Company operating as a sales office, taking a margin on any work obtained.
Despite the Company previously being profitable, neither profit nor cash were retained and in the two years leading up to insolvency, work levels began to decline. This was due fo a fall-off in solar panel work, which itself had been driven by a material reduction in the government tariffs available.
Administrators' statement of proposals (2018-02-02) · Companies House register