Model Sign Solutions Limited (06039936): administration
- Status
- Administration ended
- Administration began
- 2012-09-12
- Administrators
- Kevin Gerald Murphy, Andrew Poxon
- Administrators' firm
- Leonard Curtis
- Incorporated
- 2007-01-03
- Location
- Manchester
- Industry
- 25990 Manufacture of other fabricated metal products n.e.c.
Why it went into administration
- Creditor pressure / legal action
- Sustained trading losses
- Competition / price pressure
From the administrators' statement
31 The Company was incorporated in January 2007 and remained dormant until commencement of trading on 1 January 2010 The directors since incorporation have been Mr Willam Farr and Mr Michael Pratt Mr Kevin Farr is the sole shareholder
32 The Company operated as a supplier of signage, in particular to the public sector The Company had previously also manufactured signage however ceased manufacturing in November 2010 and sought to sub-contract the work The Company operated from leasehold premises at 7K Line House, West Road, Ipswich, Suffolk IP3 3FG The Company employed 10 staff
33 The Company was funded by way of an invoice finance facility with Bibby who hold security over the Company by way of a debenture dated 7 July 2011 Further considerable funding was provided by the directors and shareholder The Company operated a current account with Barclays Bank Plc however no credit facilites were provided
Administrators' statement of proposals (2012-11-07) · Companies House register