Alpha-Zahn Limited (05744032): administration
- Status
- Administration ended
- Administration began
- 2014-10-02
- Administrators
- Robert David Adamson, Tim Alan Askham
- Administrators' firm
- Mazars
- Formerly
- Alpha-Zhan Limited
- Incorporated
- 2006-03-15
- Location
- Leeds
- Industry
- 32500 Manufacture of medical and dental instruments and supplies
Why it went into administration
- Creditor pressure / legal action
- Sustained trading losses
- Rising costs / inflation
From the administrators' statement
The company operated as a dental laboratory in Little Lever, Bolton, producing a number of products for general and specialist dental practitioners in their treatment of patients The company had consistent turnover historically, with around £3 million generated each year for the years ending 31 January 2013 and 2014, with gross profit of around £1 4 million in each of those two years However, high operating costs resulted in a net profit of around £45,000 in both periods, which had declined from around £100,000 in previous years
The company had seen a reduction in turnover as a result of the privatisation of many dental practices and an increase in costs of dental work This had had an impact on top line sales however the company also struggled to minimise the costs of running the business, which had impacted on the net profit
Mazars Receivables Management (“MRM”) was instructed to carry out a review of the Company’s credit control procedures in autumn 2013 by Bibby Financial Services Limited (“Bibby”) This showed that although the processes were in good order, there was a heavy reliance on one contract in particular
Administrators' statement of proposals (2015-01-07) · Companies House register