Moseley Green Services Limited (05923064): administration
- Status
- Administration ended
- Administration began
- 2018-11-27
- Administrators
- Debi Harvey
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2006-09-04
- Location
- Newbury
- Industry
- 42990 Construction of other civil engineering projects n.e.c.
Why it went into administration
- Creditor pressure / legal action
- Loss-making contracts / project overruns
- Management failings / irregularities
- Competition / price pressure
From the administrators' statement
The Company was incorporated in 2006 and subsequently commenced trading. Richard Green CRG’) and Steven Moseley (‘SM’) the Directors had both worked in the sector for the greater part of their working lives and in 2006 identified an opportunity in the market and incorporated the Company has a result.
Goods and services were provided to the construction and domestic markets as demanded and as contracts were identified and won. 80% of the turnover is estimated to be generated from works conducted in the new building sector. Growth was organic throughout.
Since 2013 trading was conducted from a freehold warehouse and office at Unit 2, Park Iron Works which is owned by the Company and mortgaged to Lloyds Bank PLC (‘the Bank’). Bank facilities throughout have been provided by the Bank and at the time of ceasing to trade included three loans totalling in the region of £215,000. Since September 2013 the Company’s cashflow was also supported by an invoice discounting facility from Lloyds Commercial Finance Ltd (‘LCF’). RG & SM have both advanced personal guarantees to LCF and various other parties.
Administrators' statement of proposals (2019-02-13) · Companies House register