Rock International Holdings Limited (05216478): administration
- Status
- Administration ended
- Administration began
- 2012-08-29
- Administrators
- Jane Bronwen Moriarty, Allan Watson Graham
- Administrators' firm
- KPMG
- Formerly
- RJP 1128 Limited
- Incorporated
- 2004-08-27
- Location
- London
- Industry
- 3663
Why it went into administration
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Loss of a key customer, supplier or contract
- Sustained trading losses
- Competition / price pressure
From the administrators' statement
The Company manufactured and mstalled a range of asphalt products, supplying and installing mastic asphalt for flat roofing, structural waterproofing and vehicle deck waterproofing The majonty of the Company’s business was acting as a subcontractor on a number of large construction projects, such as The Shard in London
The Company operated from two leasehold sites in Cluswick and Elstow, which were the head office and the manufacturing facility respectively.
The Company experienced cash flow problems in May 2012 As a result the Directors sought support from the shareholder who introduced further funding in June 2012. Unfortunately, the Company experienced further trading losses from unprofitable contracts and delays in retention payments In August 2012, the Directors sought the assistance of KPMG LLP to find a purchaser for the business and assets of the Company in order to save the business as a gomg concern A proposed purchaser of the business was found and negotiations reached an advanced stage However, before a sale could be concluded, the proposed purchaser withdrew its offer
Administrators' statement of proposals (2012-10-25) · Companies House register