Artemis Interior Services Ltd. (05451626): administration
- Status
- In administration
- Administration began
- 2026-02-13
- Administrators
- Anthony Davidson, Trevor John Binyon, Andrew James Pear, Michael Stephen Elliot Solomons
- Administrators' firm
- Moorfields
- Incorporated
- 2005-05-12
- Location
- Milton Keynes
- Industry
- 43390 Other building completion and finishing
Why it went into administration
- HMRC / tax arrears
- Cash flow / liquidity pressure
- Funding withdrawn / unable to refinance
- Creditor pressure / legal action
- Bad debts / customer insolvency
- Loss-making contracts / project overruns
- Sustained trading losses
From the administrators' statement
2.1 The Company was incorporated on 12 May 2005 and commenced trading as a construction contractor for commercial refurbishment and fit-out projects for well-established blue-chip clients. Upon incorporation, the directors were Martin Playell and Gary Mark Thomas who remained directors up until 2016, at which point the Company was subject to a management buy-out.
2.2 Whilst the Company was historically profitable, it initially experienced cash flow difficulties in FY24 as a result of issues arising from two loss-making contracts. One of these contracts was subject to a number of construction adjudication decisions and resulted in trade creditor liabilities of c.£700,000 that were unable to be serviced as a result of non-payment by the customer.
2.3. Accordingly, the board sought assistance from Moorfields to source alternative funding solutions, and the Company was able to secure a facility with Bibby Financial Services Limited (“Bibby” or “the Lender”) in February 2025.
Administrators' statement of proposals (2026-04-28) · Companies House register