Plant, Access and Tool Solutions Limited (06858041): administration
- Status
- Administration ended
- Administration began
- 2012-04-25
- Administrators
- Adrian Graham, Gary Norton Lee
- Administrators' firm
- Begbies Traynor
- Formerly
- Lupfaw 267 Limited
- Incorporated
- 2009-03-25
- Location
- Sheffield
- Industry
- 7134
Why it went into administration
- Sustained trading losses
- Funding withdrawn / unable to refinance
- Bad debts / customer insolvency
- Cash flow / liquidity pressure
- Creditor pressure / legal action
From the administrators' statement
The Company hired plant and machinery and traded from three different trading addresses in Wakefield, Bristol and Heathrow The turnover for the Company was £2 5m for the year ended March 2011 and £2 6m for the year ended March 2012 Turnover in the first year of trading being the year ended March 2009 was £0 5m which was due to the initial start up of the Company
The Company previously employed 26 employees However these employees were all made redundant in March 2012
The plant and machinery hired out to customers was provided by hire purchase agreements, finance loans and a significant fleet of 104 access lifts It was the objective of the Company to eventually own their own plant and machinery to hire out
Administrators' statement of proposals (2012-06-11) · Companies House register