Plymcrete Limited (06413213): administration
- Status
- Administration ended
- Administration began
- 2011-06-23
- Administrators
- David Michael Clements, Richard Howard Toone
- Administrators' firm
- Harrisons Business Recovery and Insolvency
- Incorporated
- 2007-10-30
- Location
- Reading
- Industry
- 5190
Why it went into administration
- Property / lease costs
- Funding withdrawn / unable to refinance
- Bad debts / customer insolvency
- Competition / price pressure
- Cash flow / liquidity pressure
- HMRC / tax arrears
- Sustained trading losses
From the administrators' statement
The director reports that Plymcrete Ltd (Company Registration no 06413213) (‘the Company’) was incorporated on 30" October 2007 and began trading on the ist January 2008
Brothers, Andrew Pridham and Sam Prdham, were appointed as directors of the Company immediately on incorporation, although Sam Pridham subsequentiy resigned as a director on 7 June 2011
The directors prepared a business plan from the outset, setting out every aspect of their new business Whilst the plan made various assumptions the directors subsequently found that they were unable to raise the necessary level of funding projected to commence at the levels planned due to the business being a new start up and the lack of personal assets of the directors to support any guarantees required by the lenders
Administrators' statement of proposals (2011-08-18) · Companies House register