Maison Projects Limited (06546040): administration
- Status
- Administration ended
- Administration began
- 2016-12-16
- Administrators
- Michael Patrick Durkan
- Administrators' firm
- Design Associates
- Incorporated
- 2008-03-27
- Location
- Cheltenham
- Industry
- 41202 Construction of domestic buildings
Why it went into administration
- Creditor pressure / legal action
- Rising costs / inflation
- Loss-making contracts / project overruns
- Brexit
- Competition / price pressure
From the administrators' statement
The Company was incorporated on 27 March 2008 Statutory information on the Company is included within Appendix 1
The initial shareholders were Luay Andrew Abbosh and Grant Tyou, each holding 500 shares each During its first year, 50% of the shares were transferred to Jane Abbosh and Denise Tyou, such that all four shareholders had an equal 25% shareholding On 20 March 2013 Craig Varty became a majority shareholder, acquiring 333 shares (33 3%), all four of the other shareholders then held 167 shares each, with the exception of Denise Tyou who held 166 in the following year, Jane Abbosh transferred her shares to Luay Andrew Abbosh, and on 4 November 2015 the 333 shares previously held by Craig Varty were purchased by the company, such that the shareholding then reflected the current position shown at Appendix 1
The Company was set up to project manage large luxury house builds It commenced trading immediately, rescuing a partially built proyect in The Crown Estate Oxshott However as business became more polarised and the concerns of the recession in 2008 faded, cllents started requiring fixed prices and main contractors, and thus the Company focused its efforts on the main contractor element The split of developers to end user clients was approximately 65 35, and the main type of contract entered into was a traditional, Joint Contracts Tribunal (‘JCT’) contract
Administrators' statement of proposals (2017-02-17) · Companies House register