Total Protection (UK) Limited (05199730): administration
- Status
- Administration ended
- Administration began
- 2017-04-10
- Administrators' firm
- Mazars
- Formerly
- Total Protection Wellingborough Limited
- Incorporated
- 2004-08-06
- Location
- Birmingham
- Industry
- 82990 Other business support service activities n.e.c.
Why it went into administration
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Management failings / irregularities
From the administrators' statement
The Company is a specialised safety equipment supplier, selling branded products as an authorised distributer and, provides service and training for work undertaken in potentially hazardous areas. It employs 19 staff with tong service. The Company’s turnover has declined in the last 2 years which has absorbed working capital. The Company’s tangible assets have a relatively low realisable value.
Mazars LLP was first introduced to the Company in 28 February 2017 and a meeting was held to discuss working capital finance between Simon Chandler and the Company on that date at the request of Lloyds Bank Commercial Finance. Mazars LLP undertook a cash flow review which completed on 3 March 2017. No cests have been charged in respect of this assignment.
Following the cash flow review carried out by Mazars LLP at the request of Lioyds Bank Commercial Finance, Mazars LLP was not involved with the Company’s continuing discussions with interested parties regarding a sale of the Company.
Administrators' statement of proposals (2017-07-07) · Companies House register