Duval FM Limited (06495979): administration
- Status
- Administration ended
- Administration began
- 2020-03-27
- Administrators' firm
- The Wilkes Partnership
- Formerly
- S Security Limited; Duval FM Limited; The Stones Security Company Limited
- Incorporated
- 2008-02-06
- Location
- Birmingham
- Industry
- 80100 Private security activities
Why it went into administration
- Rising costs / inflation
- Property / lease costs
- Pension deficit
From the administrators' statement
Creditors should note that, unless otherwise stated, this section of my proposals has been prepared based on information provided to me by the directors of the Company and not from my personal knowledge as Administrator
The Company provided security services and facility services to a variety of clients throughout the United Kingdom on a contractual basis. At the outset, the Company was able to generate sustainable profit margins successfully delivering services to its clients.
The fortunes of the Company began to suffer however in early 2019 with increases in both the national living wage and workplace pension contributions. In order to account for the increased costs Incurred, negotiations with clients begun with a view to securing an increase of 7.9% in rates received. Unfortunately, the result of the negotiations saw an increase of 4.1% due to economic pressure that the customer base was also experiencing.
Administrators' statement of proposals (2020-04-30) · Companies House register