Paragon Building Services Limited (05640667): administration
- Status
- Administration ended
- Administration began
- 2014-09-26
- Administrators
- Lisa Jane Hogg, Robert Neil Dymond
- Administrators' firm
- Wilson Field
- Incorporated
- 2005-11-30
- Location
- Sheffield
- Industry
- 71129 Other engineering activities
Why it went into administration
- Property / lease costs
- Cash flow / liquidity pressure
- HMRC / tax arrears
- Creditor pressure / legal action
- Loss of a key customer, supplier or contract
- Bad debts / customer insolvency
- Rising costs / inflation
- Funding withdrawn / unable to refinance
From the administrators' statement
The information provided in this section is based upon the Company records and the explanations of tts director, the accuracy of which the Joint Administrators are unable to vouch for The Jomt Administrators cannot therefore be held personally liable for errors or misstatement of fact contained therein
The Company was incorporated on 30 November 20085, with Paul Harrison and Simon Colton being appointed as directors upon incorporation The Company's issued share capital was initially allotted to Simon Colton, who acquired 1 ordinary £1 share, which represented 100% of the Company's issued share capital at the time The Company laid dormant following incorporation, submitting dormant accounts for the first year of trading, ending on 30 November
Messrs Harrison and Colton had an existing business relationship and held office as directors of a company catled SiCo Consulting Limited (“SiCo”), a business which had been trading since 2004 offering management consultancy services to mechanical and electrical contractors (“M & E contractors’) in the construction sector SiCo was engaged by contractors on a consultancy basis, effectively acting as an overflow for the M & E contractors’ design requirements Over the years, SiCo’s customers grew in size during the construction industry boom and they approached the directors to see if they were interested in diversifying from design consultancy to take on tnstallation works themselves Recognising the opportunities in the sector and the potential of taking on the surplus contracts which SiCo’s customers were unable to accept, Messrs Harrison and Colton incorporated the Company as the vehicle for their mechanical engineering venture
Administrators' statement of proposals (2014-11-28) · Companies House register