AK (Lighting & Signs) Limited (05317860): administration
- Status
- Administration ended
- Administration began
- 2018-07-31
- Administrators' firm
- Clark Business Recovery
- Incorporated
- 2004-12-21
- Location
- Garforth
- Industry
- 42110 Construction of roads and motorways
Why it went into administration
- HMRC / tax arrears
- Creditor pressure / legal action
- Loss-making contracts / project overruns
- Sustained trading losses
From the administrators' statement
The Company experienced significant losses on some of the projects that were completed in 2018 and experienced further financial issues following the liquidation of Carillion. The Company’s records Indicated that approximately £600k was owed to the Company from a Joint venture with Carillion / Morgan / Sindall shortly prior to the Insolvency of Carillion.
The Directors had also negotiated a payment plan with HMRC to try and remedy the outstanding balance that was owed to them.
Having reached an agreernent with HMRC, the Company experienced a number of issues with one of its main contractors and payments that were expected to be received were not made. Mr Andy Kay, the managing director held a number of meetings with the main contractors to resolve these issues but it became clear that the Company was unlikely to receive the full consideration it was due.
Administrators' statement of proposals (2018-09-28) · Companies House register