P & S Drylining Limited (05581269): administration
- Status
- Administration ended
- Administration began
- 2013-01-22
- Administrators
- Brian Green, Paul Andrew Flint
- Administrators' firm
- KPMG
- Incorporated
- 2005-10-03
- Location
- Manchester
- Industry
- 43310 Plastering
Why it went into administration
- Bad debts / customer insolvency
- Creditor pressure / legal action
- Loss of a key customer, supplier or contract
From the administrators' statement
The Company was incorporated in October 2005 and offered plastering and drylining services to a customer base of nationwide construction companies
The Company operated from leased premises in Blackburn, Lancashire and employed three people, two of whom were the Company Directors.
Between 2010 and 2011, the Company had grown substantially, increasing its revenue and profits from £0 855m to £1 974m and £60,000 to £211,000 respectively However, in December 2012, the Company suffered a significant bad debt when its largest customer (Speymull Contracts Ltd) went into administration owing the Company circa £350,000
Administrators' statement of proposals (2013-03-26) · Companies House register