Berry Piling Systems Limited (05488695): administration
- Status
- Administration ended
- Administration began
- 2012-05-14
- Administrators' firm
- Axiom Recovery
- Formerly
- Mailwave Limited
- Incorporated
- 2005-06-23
- Location
- London
- Industry
- 4512
Why it went into administration
- Funding withdrawn / unable to refinance
- Bad debts / customer insolvency
From the administrators' statement
The Company was incorporated on 23 June 2005 and successfully traded through 2006, 2007 and 2008 with turnover values of £18m, £217m and £3 8m respectfully At the peak of trading the number of employees was approximately 37 However in late 2008 the Company entered into a £320,006 project and during the completion of the project, pile testing revealed severe flaws In the pile designs and despite a settlement being reached, the Company had to
endure in excess of £350,000 worth of direct costs to rectify the piling works and satisfying the chent
This obviously had a devastating effect on the Company's cash flow An agreement was eventually reached on the final account for the sum of £250,060 and not the £650,000 the
Administrators' statement of proposals (2012-06-07) · Companies House register