AWS Group Holdings Ltd (06526542): administration
- Status
- Administration ended
- Administration began
- 2012-10-31
- Administrators
- Daniel Francis Butters, Dominic Lee Zoong Wong
- Administrators' firm
- Deloitte
- Formerly
- Broomco (4139) Limited
- Incorporated
- 2008-03-06
- Location
- Leeds
- Industry
- 27320 Manufacture of other electronic and electric wires and cables
Why it went into administration
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
From the administrators' statement
Despite protracted discussions, AGH’s shareholders have been unable to agree on the basis for the new investment (circa £1m to £1.5m) which was required to provide the Group with medium term liquidity headroom
On 1} June 2012, the Bank instructed Deloitte LLP to undertake a review of the Group's short term cash flow forecast and also review the Bank’s options in respect of its future lending strategy towards the Group
Further to that review, the Bank then instructed Deloitte LLP (on 28 June 2012) to market the Group's share capital and/or business & assets for sale This marketing process is covered in
Administrators' statement of proposals (2012-12-17) · Companies House register