Waste Management Resources Limited (05559915): administration
- Status
- Administration ended
- Administration began
- 2017-11-07
- Administrators
- Philip Lewis Armstrong, Philip James Watkins
- Administrators' firm
- FRP Advisory
- Formerly
- Waste MGT Resources Limited
- Incorporated
- 2005-09-09
- Location
- London
- Industry
- 70229 Management consultancy activities other than financial management
Why it went into administration
- Sustained trading losses
- Competition / price pressure
- Funding withdrawn / unable to refinance
From the administrators' statement
Business commenced trading in 2005 and primarily focused on the collection and disposal of commercial waste including recyclable materials from clients in and around London. The business employed 24 staff and was based out of a yard in Charlton in South East London.
Whilst the business had been loss making in the recent financial years to 30 September 2015 and 2016, this had been with the support of the parent company Waste Management Resources Holdings Ltd and as part of a growth and development strategy.
Due to the ongoing losses Barclays Bank plc initially contacted FRP in May 2016 to provide a review of the Company’s financial affairs. This assignment was completed, and the Company continued to trade with the support of the parent company.
Administrators' statement of proposals (2018-01-09) · Companies House register