Magpie Metal Fabrications Limited (05313863): administration
- Status
- Administration ended
- Administration began
- 2018-10-09
- Administrators
- Debi Harvey
- Administrators' firm
- Harvey of Harveys Insolvency & Turnaround
- Incorporated
- 2004-12-15
- Location
- Newbury
- Industry
- 25110 Manufacture of metal structures and parts of structures
Why it went into administration
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Loss-making contracts / project overruns
- Competition / price pressure
From the administrators' statement
The Company was incorporated in 2004 and subsequently commenced trading. Stuart Crook (‘SC’) a Director had, prior to this, operated as a trader, this was transferred to the Company at the recommendation of his then accountant.
Goods and services were provided to the construction sector and domestic markets, in recent years this has focused on gates, balconies, railings and bespoke products. The Company offered services from design, manufacture and installation.
Trading was conducted from a warehouse and offices as stated earlier which were owned by the Director SC and occupied on an informal basis. Bank facilitates, which included an overdraft of up to £30,000, were provided by HSBC Bank plc.SG and the former company secretary Julie Crook advanced a personal guarantee in this regard.
Administrators' statement of proposals (2019-01-17) · Companies House register