SAC Hardware Limited (05556803): administration
- Status
- In administration
- Administration began
- 2023-11-21
- Administrators
- Julie Anne Palmer, Andrew Hook
- Administrators' firm
- Begbies Traynor
- Formerly
- SAC Systems (Hardware) Limited
- Incorporated
- 2005-09-07
- Location
- Salisbury
- Industry
- 82990 Other business support service activities n.e.c.
Why it went into administration
- HMRC / tax arrears
- Bad debts / customer insolvency
- Loss of a key customer, supplier or contract
- COVID-19
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Property / lease costs
From the administrators' statement
The Company was incorporated on 7 September 2005 for the purposes of manufacturing and selling its products into the fenestration industry, specialising in the supply of hardware for windows and doors under a license issued to the Company by the Director personally.
The Company’s success began with the launch of its innovative product the “Sac Bolt" which has become well known within the industry. It has continued to develop and launch additional products which have proved to be equally as successful.
The Company benefitted financially from a healthy net profit margin of 20% which it was able to generate by sourcing stock primarily from China. This stock was then sold on to manufacturers.
Administrators' statement of proposals (2024-01-16) · Companies House register