Darranlas Limited (06750506): administration
- Status
- Administration ended
- Administration began
- 2019-02-28
- Incorporated
- 2008-11-17
- Location
- Bristol
- Industry
- 41201 Construction of commercial buildings
Why it went into administration
- Creditor pressure / legal action
- Cash flow / liquidity pressure
- HMRC / tax arrears
From the administrators' statement
The Company was established in 17 November 2008 with principal activities of construction and building maintenance Whilst building maintenance operations have remained profitable, construction operations have declined significantly over recent years. As a result of this decline the Company has struggled to meet its obligations in respect of its liabilities with creditor pressure ultimately becoming insurmountable.
On 7 February 2019 South West and Wales Business Recovery was introduced to the Company through the Company's accountants, Cooper Healey, to provide initial advice on the Company's financial position. The Directors’ advised that the Company was facing significant pressure from creditors, in particular HM Revenue & Customs (“HMRC”) who had threatened winding up proceedings and seizure of goods. Pursuant to a review of the available information it was evident that the Company was unable to meet its liabilities as they fell due and was therefore insolvent.
At the meeting on 7 February 2019, various options were discussed with the directors and senior management including: Continued trading without insolvency, Pre-Packaged Administration, Company Voluntary Arrangement (“CVA”), Administration Without PrePackaged Sale and Liquidation. Having assessed the relative merits of these strategies, one of the senior management to the Company, Brendan Keith Simmons, indicated a wish to establish a new company, Blue Hill Facilities Management Limited, (“Blue Hill’) and to purchase the business and certain assets as a going concern in a Pre-Packaged Administration.
Administrators' statement of proposals (2019-03-19) · Companies House register