JET Rollers (2005) Limited (05503153): administration
- Status
- Administration ended
- Administration began
- 2014-02-04
- Administrators
- John Malcolm Titley, Mark John Colman
- Administrators' firm
- Leonard Curtis
- Formerly
- Lough & Illis Limited
- Incorporated
- 2005-07-08
- Location
- Preston
- Industry
- 22190 Manufacture of other rubber products
Why it went into administration
- Creditor pressure / legal action
- HMRC / tax arrears
- Cash flow / liquidity pressure
- Sustained trading losses
From the administrators' statement
The Company was incorporated on 8 July 2005 and began trading from its inception at leasehold premises situated at Unit 7, Chester Street, Accrington BB5 OSD The Company operated with 17 members of staff
The Company specialised in the manufacture of rubber covered rollers offering a complete in house service, including on-site design, matenal selection, manufacturing, curing, finishing and quality Inspection carned out by the Company's skilled workforce In addition, the Company offered complete and comprehensive re-cover and re-conditioning services with all engineering work cared out in house
The directors have advised that the Company's financial difficulttes arose for a number of reasons, including a reduction in orders This resulted in a decline in turnover and subsequent cashflow difficulties As a result of the cashflow difficulties, arrears of approximately £222,743 13 to HM Revenue & Customs (“HMRC”) became overdue for payment Subsequently, the Company was presented with a winding up petition from HMRC, with a hearing scheduled for 17 February 2014
Administrators' statement of proposals (2014-03-10) · Companies House register