Brockwell and Sons Ltd (05565290): administration
- Status
- Administration ended
- Administration began
- 2011-10-10
- Administrators
- Neil John Mather, Kirstie Jane Provan
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2005-09-15
- Location
- London
- Industry
- 4521
Why it went into administration
- HMRC / tax arrears
- Loss of a key customer, supplier or contract
- Creditor pressure / legal action
From the administrators' statement
Brockwell and Sons Limited (‘the Company”) was incorporated on 15 September 2005 and ts owned by, Mr and Mrs Tony and Nicola Brockwell The Company provided plant hire services, grab hire, muckaway labour, recycling services, supervisory staff and subcontracting, specialising in the gas, water and telecoms sectors The two main streams of revenue were labour only services and subcontracting work The Company's two main customers were Momson Utility Services and J Murphy and Sons
Historically the Company provided labour only services In the last 2 -3 years, due to changes in the market, the Company diversified the business to subcontracting work which included providing labour, materials and plant However, according to the directors, poor costing meant that the full cost of matenals and plant were not always factored into contracts for which the Company tendered, resulting in large losses on a number of jobs The Company's financial difficulties were further exacerbated by the substantial downturn in the construction industry generally
The Directors attempted to turnaround the business by employing a consultant, Mr Jon Willams, who implemented tighter controls for cash management, cut excess staff and wages In addition, he implemented stncter supervision and controt of contracts and labour, better costing/pricing on tenders and negotiated improved payment terms with key customers Mr Willams produced a budget and forecast which indicated that the Company required additional funding to assist its on-going working capital requirements and to purchase new plant and equipment
Administrators' statement of proposals (2011-12-05) · Companies House register