SBS Joinery Limited (05968502): administration
- Status
- Administration ended
- Administration began
- 2016-06-09
- Administrators
- Carl Stuart Jackson, Simon Campbell
- Administrators' firm
- Quantuma
- Incorporated
- 2006-10-16
- Location
- Southampton
- Industry
- 43320 Joinery installation
Why it went into administration
- HMRC / tax arrears
- Creditor pressure / legal action
- Cash flow / liquidity pressure
- Bad debts / customer insolvency
- Property / lease costs
- Sustained trading losses
- Competition / price pressure
From the administrators' statement
The Company was incorporated in October 2006 but remained dormant until 2010 The sole shareholder is Fleet Holdings (Cambridge) Ltd, holding 10,000 ordinary £1 shares Adrian Fleet is the sole director of the Company
The Company's principal activity was joinery manufacturing of windows, stairs, linings and other wood based products The Company traded from leasehold premises at Fordham Road and The Shade Business Park in Soham, Cambridgeshire
The Company was funded by an overdraft facility with Barclays Bank limited to £15,000 The lability to Barclays Bank has been personally guaranteed by the director Adnan Fleet The account 1s £15,396 overdrawn The Company's debtor ledger was subject to an invoice discounting facility with Metro Bank
Administrators' statement of proposals (2016-07-28) · Companies House register