Longcross Construction Limited (05333176): administration
- Status
- Administration ended
- Administration began
- 2015-06-16
- Administrators
- Daniel Francis Butters, Matthew David Smith
- Administrators' firm
- Deloitte
- Incorporated
- 2005-01-14
- Location
- London
- Industry
- 42990 Construction of other civil engineering projects n.e.c.
Why it went into administration
- Creditor pressure / legal action
- Loss-making contracts / project overruns
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
From the administrators' statement
The nature of LXC’s operations was to project manage construction and refurbishment works, sub-contracting the on-site building work to third party contractors
The Company ultimately suffered from reducing and, in some cases, negative margins on projects, which arose from a number of factors
* insufficient management knowledge and experience of the sectors into which the Company was seeking to expand into,
Administrators' statement of proposals (2015-08-17) · Companies House register