Hayhursts Limited (05319561): administration
- Status
- Administration ended
- Administration began
- 2015-06-26
- Administrators
- Dean Watson, Ian Mcculloch
- Administrators' firm
- Begbies Traynor
- Formerly
- W & M Hayhurst 2005 Limited
- Incorporated
- 2004-12-22
- Location
- Preston
- Industry
- 41201 Construction of commercial buildings
Why it went into administration
- Cash flow / liquidity pressure
- HMRC / tax arrears
- Creditor pressure / legal action
- Loss-making contracts / project overruns
From the administrators' statement
The Company was a groundworks contractor operating in the construction industry It was incorporated in 2004 with the business being purchased from tt previous owners, the Hayhursts, who remain creditors for circa £300,000 The current directors, Stephen Taylor and Gary Petherbndge were appointed upon incorporation
During 2015 the Company employed 43 employees at the date of administration and operated with a number of contractors over vanous sites
Following incorporation the Company traded successfully for a number of years However, the Company began to expenence financial difficulties as a consequence of the wider economic recession and the reduction of trade in the construction industry Due to tts fixed overheads and large employee base it was unable to respond to this reduction in trade and the problem was exacerbated as groundworks payments were typically completed first and retentions are only paid at the end of projects completion
Administrators' statement of proposals (2015-08-04) · Companies House register