Intervate Limited (06489093): administration
- Status
- Administration ended
- Administration began
- 2018-01-02
- Administrators
- Matthew Douglas Hardy, Andrew Turpin
- Administrators' firm
- Quantuma
- Incorporated
- 2008-01-30
- Location
- Birmingham
- Industry
- 32990 Other manufacturing n.e.c.
Why it went into administration
- Creditor pressure / legal action
- Cash flow / liquidity pressure
- Loss of a key customer, supplier or contract
From the administrators' statement
The Company was incorporated on 30 January 2008 and operated as the producer of biomass energy, based in Cradley Heath in the West Midlands, manufacturing and supplying wood pellets for Renewable Heat [Incentive installations from focally sourced sustainable wood supplies, as well as wood pellets for the use in pet bedding and cat litter. | first met with the Directors of the Company, on 10 January 2017. The Directors advised that they had found our contact details following a search of the internet.
At that time, the Company was about to invest a significant sum in new equipment to produce wood pellets for use in biomass boilers. This represented a change in direction for the Company which had focused on the generation of energy through a gasification process.
The proposed change to the manufacture of wood pellets was supported by detailed cash flow and trading forecasts, the success of which was dependent on a number of key factors such as eventual selling price and critical mass production to reach breakeven in trading. The forecasts produced on a variety of different outcomes suggested potential cashflow issues in the short to medium term if key performance indicators were not met.
Administrators' statement of proposals (2018-03-06) · Companies House register