B & C Foundry Limited (05691397): administration
- Status
- Administration ended
- Administration began
- 2014-01-24
- Incorporated
- 2006-01-30
- Location
- Sheffield
- Industry
- 25500 Forging, pressing, stamping and roll-forming of metal; powder metallurgy
Why it went into administration
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- HMRC / tax arrears
- Bad debts / customer insolvency
- Funding withdrawn / unable to refinance
- Loss of a key customer, supplier or contract
- Competition / price pressure
From the administrators' statement
The information provided in this section is based upon the Company records, the accuracy of which the Joint Administrators are unable to vouch for The Joint Administrators cannot, therefore, be held personally liable for errors or misstatement of fact contained therein
The Company was incorporated on 30 January 2006 and commenced trading on the same date It operated from freehold premises in Bedwas, near Caerphilly, comprising of 2 linked industrial units with yard space The Company operated a foundry business making bespoke castings for a variety of customers, ranging from small one off orders to large orders for The Tata Group and the railway industry.
Inttial funding requirements were met by a confidential invoice discounting (“CID”) facility with Bibby and an overdraft facility of £60,000 provided by the Company's bankers, Barclays
Administrators' statement of proposals (2014-03-28) · Companies House register