ALL Trades Finishings Limited (06800899): administration
- Status
- Administration ended
- Administration began
- 2014-02-04
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2009-01-26
- Location
- Preston
- Industry
- 41201 Construction of commercial buildings
Why it went into administration
- Bad debts / customer insolvency
- Parent or group failure
From the administrators' statement
The Company mainly operated as a sub-contractor to Red Rose Drylining Limited ("RRDL”) and completed drylining and plastering works The Company had a single employee and all labour was resourced on as sub-contractor basis dependent on the requirements of specific contracts
The Company began to expenence financial difficulties as a consequence of the wider effect of the economic recession In addition, RRDL also expenenced a significant bad debt of circa £500k on a large contract and as a consequence an element of the losses was ascribed to the Company The Company subsequently began to accrue arrears with HM Revenue & Customs and had difficulty in meeting sub-contractor labilittes
Following a review of the Company's financia! position tt was apparent that the Company was insolvent on both a balance sheet and cashflow basis as it was unable to pay tts debts when they fell due Mark Holden the newly appointed shareholder of the Company sought professional advice in conjunction with the director of the Company The decision was made to place the Company into administration, a notice of intention to appoint an administrator was filed on 22 January 2014 and the appointment was formally completed on 4 February 2014
Administrators' statement of proposals (2014-04-04) · Companies House register