Electro Technical Services Limited (05470866): administration
- Status
- Administration ended
- Administration began
- 2014-01-31
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2005-06-03
- Location
- Cardiff
- Industry
- 43210 Electrical installation
Why it went into administration
- Creditor pressure / legal action
- Cash flow / liquidity pressure
- Loss of a key customer, supplier or contract
From the administrators' statement
The Company was incorporated on 3 June 2005 as an electrical contractor
The Company traded reasonably successfully and achieved steady growth In its customer base Annual turnover increased to approximately £5-6m and profits of up to £100,000 were achieved each year
However, by the end of 2010, the downturn in the economic climate had significantly affected the construction industry As a result, contracts would be agreed on smal profit margins which were further eroded by increases in material and other costs The directors also noticed that debt collection was substantially slower than usual and delay by customers in settling invoices increased finance costs
Administrators' statement of proposals (2014-03-25) · Companies House register