Bowser Supply Ltd (06654682): administration
- Status
- Administration ended
- Administration began
- 2018-04-18
- Administrators
- Craig Johns, Jason Mark Elliott, Nick Brierley
- Administrators' firm
- Address Cowgill Holloway Business Recovery
- Incorporated
- 2008-07-23
- Location
- Bolton
- Industry
- 25290 Manufacture of other tanks, reservoirs and containers of metal
Why it went into administration
- Loss of a key customer, supplier or contract
- Management failings / irregularities
- Competition / price pressure
- Property / lease costs
From the administrators' statement
The Company was incorporated in July 2008 and specialises in the manufacturing and supply of Bowsers. These consist of a large tank, typically mounted onto a trailer, but in some instances, mounted on skids (a steel base moveable with a forklift truck or similar}. The Company also utilises its machinery to work on occasional generai
steelworks related to orders. The Company has one major customer, who has historically accounted for circa 60-70% of turnover; however, it is understood that this has recently reduced to approximately 30%.
The Company has been funded by invoice discounting agreements, previously with Lloyds TSB Commercial Finance and then Bibby Financial Services Limited, and it has most recently been funded via an invoice discounting facility provided by Positive Cashflow Finance Limited (“Positive”).
Administrators' statement of proposals (2018-05-11) · Companies House register