Bradway Construction 2006 Limited (05821379): administration
- Status
- Administration ended
- Administration began
- 2011-07-22
- Administrators
- Adrian Graham, Robert Alexander Henry Maxwell, Rob Sadler
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2006-05-18
- Location
- Leeds
- Industry
- 4521
Why it went into administration
- Cash flow / liquidity pressure
From the administrators' statement
The Company was incorporated on 18 May 2006 and was onginally set up as a special purpose vehicle to develop six houses on a site at Kent Road, Sheffield These houses form the pnncipal asset of the Company, and are all at varying stages of completion, with only one fully completed
The Company began to experience financial difficulties as a consequence of the general economic downturn and not betng able to sell the completed four bedroom detached property which has been on the market since March 2010 Pressure on cashflow then began to build and the Company was unable to complete the development
In January 2011, BTG Restructunng Limited, a division within Begbies Traynor Group, was instructed by the Company and the Company's secured lender, Lloyds Banking Group (“the Bank’) to carry out a short term cash flow analysis The findings of this review were reported both to the Company and the Bank accordingly
Administrators' statement of proposals (2011-09-14) · Companies House register