Arrow Supply Company Limited (06408264): administration
- Status
- Administration ended
- Administration began
- 2012-03-05
- Administrators
- John Christopher Sallabank, Paul Robert Boyle
- Administrators' firm
- Harrisons Business Recovery and Insolvency
- Formerly
- B.G.T. Supplies Limited
- Incorporated
- 2007-10-24
- Location
- Reading
- Industry
- 25940 Manufacture of fasteners and screw machine products
Why it went into administration
- Cash flow / liquidity pressure
- Bad debts / customer insolvency
From the administrators' statement
The business operated by the Company onginally started trading in 1982 under the contro! of the Company's present shareholders, supplying industrial fasteners to the engineering and construction sectors The Company was incorporated in 2007 in order to acquire the assets and undertaking of the business by way of a pre-pack sale from the administrators of a predecessor business, also under the control of the Directors.
The Company traded from an industrial unit based in Kempston, Bedfordshire, occupred under the terms of alease The landlord of the trading premises being the shareholders The Company had butit up a diverse customer base of around 300 ranging from organisations in food, safety, telecommunications, vehicle, water, rail industries and many others
It initially traded profitably but, according to the Directors, began to experience difficulties in early 2009 following the occurrence of a number of bad debts, which led to losses being reported in the financial years ending 31 October 2009 and 2010.
Administrators' statement of proposals (2012-05-09) · Companies House register