BMM Heaters Limited (05291012): administration
- Status
- Administration ended
- Administration began
- 2022-05-20
- Administrators
- Sean Williams, Philip Deyes
- Administrators' firm
- Leonard Curtis
- Formerly
- Garbutt Heaters Service Limited
- Incorporated
- 2004-11-18
- Location
- Leeds
- Industry
- 28250 Manufacture of non-domestic cooling and ventilation equipment
Why it went into administration
- COVID-19
- Cash flow / liquidity pressure
- HMRC / tax arrears
- Creditor pressure / legal action
- Competition / price pressure
From the administrators' statement
The Company was incorporated on 18 November 2004 by its current directors Sean Byrne and Kevin MurrayMyers. Immediately after its incorporation the Company began trading, manufacturing and installing heating systems for industrial and commercial premises.
The Company latterly traded from freehold premises at 16 Limerick Road, Trunk Road Industrial Estate, Redcar, TS10 5JU which the Company purchased in July 2016, utilising a secured loan from Lloyds Bank Plc (“Loyds’). Part of the trading premises is currently let to an unconnected third party on a three year lease which is due to expire on 31 July 2022.
Following the move, the increased overhead costs negatively impacted the cashflow position of the Company more than the directors had envisaged. As a result, the Company obtained a number of additional loans to assist with working capital requirements.
Administrators' statement of proposals (2022-07-20) · Companies House register