Priestley & Taffs Ltd (05799610): administration
- Status
- Administration ended
- Administration began
- 2016-03-14
- Administrators' firm
- DL Partnership (uk)
- Incorporated
- 2006-04-28
- Location
- Halifax
- Industry
- 41100 Development of building projects
Why it went into administration
- Creditor pressure / legal action
- Loss-making contracts / project overruns
- Competition / price pressure
From the administrators' statement
Representatives of DLP were subsequently introduced to the Company at an initial meeting held on 1 March 2016 to provide an overview of the potential options avallable to the Company.
A review of the Company's financial position including its potential order book, work in progress, book debts, cash flow forecasts and a statement of assets and liabilities was carried out and it was noted that following the expiry of a statutory demand the issuing of a winding-up petition was imminent.
The directors subsequently took the decision to cease to trade on 11 March 2016 after completing work in progress as far as possible within the time constraints.
Administrators' statement of proposals (2016-05-19) · Companies House register