LPM Plant Hire & Sales Limited (06858070): administration
- Status
- Administration ended
- Administration began
- 2021-09-01
- Administrators
- Louise Williams, Mark Nicholas Ranson
- Administrators' firm
- Opus Restructuring
- Formerly
- Liquidation Plant & Machinery Limited
- Incorporated
- 2009-03-25
- Location
- Milton Keynes
- Industry
- 82990 Other business support service activities n.e.c.
Why it went into administration
- COVID-19
- Property / lease costs
From the administrators' statement
3.1
3.2
In mid-2018, the commercial decision was taken to dispose of the LPM Plant Hire and Sales Ltd business. This sale completed in Oct 2019. Within the sale agreement, three incentive-based pay-outs were agreed, however the COVID-19 pandemic and adverse trading conditions hit the market and the majority of these pay-outs were not received. This had an adverse effect of around £100K.
Administrators' statement of proposals (2021-10-21) · Companies House register