Total Site Construction Ltd (06647389): administration
- Status
- Administration ended
- Administration began
- 2012-02-16
- Administrators' firm
- RSM
- Incorporated
- 2008-07-15
- Location
- Marlow
- Industry
- 4521
Why it went into administration
- Competition / price pressure
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
From the administrators' statement
The Company was incorporated tn July 2008 by Andrew Cosias and Bryan Lock, who held shareholdings of 70% and 30% respectively The Company's principle trading activity was to place sub-contracted manual labourers into building projects for a number of construction clients
The Company was initially funded by way of capital investment provided by Bryan Lock totalling £50,000 and it traded from leasehold premises tn the Romford, Essex area The day to day running of the Company was undertaken solely by Andrew Cosias until 2009, when administration staff were hired At the date of the Administration the Company employed 4 members of staff
In August 2008 the Company entered into an invoice discounting agreement with Lloyds TSB Commercral Finance Limited (‘Lloyds’), who took security over the Company by way of an all assets debenture
Administrators' statement of proposals (2012-02-28) · Companies House register