Xpress Electrical & Lighting Supplies Limited (05401024): administration
- Status
- Administration ended
- Administration began
- 2012-09-12
- Administrators
- Glyn Mummery, Jeremy Stuart French
- Administrators' firm
- FRP Advisory
- Incorporated
- 2005-03-22
- Location
- Brentwood
- Industry
- 46740 Wholesale of hardware, plumbing and heating equipment and supplies
Why it went into administration
- HMRC / tax arrears
- Cash flow / liquidity pressure
- Credit insurance / supplier credit withdrawn
- Funding withdrawn / unable to refinance
- Loss of a key customer, supplier or contract
- Bad debts / customer insolvency
- Sustained trading losses
- Competition / price pressure
From the administrators' statement
The Company was incorporated on 22 March 2005 and operated as a wholesaler of electrical matertals to commercial and industrial electrical contractors based in the South East. It traded from rented premises in Rainham, Essex and employed 8 staff, including one of the four directors, Martin Hawkins.
In 2008/2009 sales had reached £3.6m, however, tn 2009/2010, the effects of the economic recession took its toll on the Company’s cash flow, causing XELS to suffer a number of significant bad debts, including a bad debt for £130k due by its largest customer.
FRP Advisory LLP Is incorporated in England and Wales under the Limited Labtity Partnerships Act 2000 as a Limited Liability Partnership eames Number OC355680 Registered office 10 Fumival Steet London EC4A IYH A list of members names Is open to inspection at this address www fi
Administrators' statement of proposals (2012-11-05) · Companies House register