Rovac Aerospace Limited (06864397): administration
- Status
- Administration ended
- Administration began
- 2014-10-29
- Administrators
- Scott Christian Bevan, Simon David Chandler
- Administrators' firm
- Mazars
- Incorporated
- 2009-03-31
- Location
- Nottingham
- Industry
- 33160 Repair and maintenance of aircraft and spacecraft
Why it went into administration
- Cash flow / liquidity pressure
- Property / lease costs
From the administrators' statement
We were first introduced to the director on 7 August 2014 by a party who was interested in investing in the business
Discussions with the interested party broke down in relation to the sale of the busimess as well as discussions with a debtor regarding funds that were due to the Company Mr Owens was subsequently introduced to insolvency practitioners from BDO LLP (“BDO”) who were engaged to act as the proposed Administrators A notice of intention to appoint Administrators was filed at Court and BDO commenced the marketing the Company’s business and assets for sale
It 1s our understanding that an extensive marketing campaign was conducted by BDO and Owens, however no purchaser could be found The director was of the opinion that there was money due from one of its debtor and wished to explore the possibility of recovering this money outside the Administration process As a result, BDO’s appointment as Administrators was never finalised
Administrators' statement of proposals (2014-12-23) · Companies House register