From the administrators' statement

Emgma Fire & Security Services Limited (‘Enigma’) was incorporated on 30 August 2005 but only commenced trading in 2009 The core elements of the business were that of installation and maintenance of fire detection systems, together with other forms of electronic security, including emergency lighting, CCTV and intruder alarms systems.

Initially despite the wider economic climate trading was in line with forecasts and the business was progressing well.

As the economic downturn continued however for longer than anticipated, margins became tighter and payment terms increased significantly Enigma then suffered a series of bad debts due to clients becoming insolvent, or failing to pay final instalments of installation contracts at the completion of works which represented the “profit” in the contract This resulted in Enigma struggling financially.

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Enigma Fire and Security Services Limited (05548744)

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