Osborne Slinfold Ltd (05472264): administration
- Status
- Administration ended
- Administration began
- 2024-05-29
- Administrators
- Damian Webb, David Frederick Shambrook
- Administrators' firm
- RSM
- Formerly
- Innovare Systems Limited
- Incorporated
- 2005-06-06
- Location
- London
- Industry
- 41201 Construction of commercial buildings
Why it went into administration
- COVID-19
- Loss of a key customer, supplier or contract
- Supply chain disruption
- Bad debts / customer insolvency
- Loss-making contracts / project overruns
- Parent or group failure
From the administrators' statement
The Company was established in 2005 as Innovare Systems Ltd, as a subsidiary of Geoffrey Osborne Ltd with its office located in Chichester. The Company’s primary purpose for trade activity was the construction of buildings using Structural Insulated Panel Systems (SIPS). The Company was supported by loans from its parent company, Geoffrey Osborne Ltd.
A demonstration house using the SIPS system was built at the Building Research Establishment (BRE) in Watford, which showcased new building techniques. The SIPS system had been used for many years in the USA, but not in the UK. The main benefits of the system were that buildings using the system were:
e highly insulated and used less energy in operation;
Administrators' statement of proposals (2024-08-29) · Companies House register