Blackpath Construction Ltd. (06945060): administration
- Status
- Administration ended
- Administration began
- 2012-04-20
- Administrators
- Kelly Burton, Lisa Jane Hogg
- Administrators' firm
- Wilson Field
- Formerly
- Jetaire (NE) Limited
- Incorporated
- 2009-06-26
- Location
- Sheffield
- Industry
- 4521
Why it went into administration
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
From the administrators' statement
The 3 directors formed Jet Aire (NE) Ltd in June 2009 The Company undertook drain cleaning contracts Initially, it was profitable however it soon began to experience cashflow difficulties
Therefore in February 2011 the the 3 directors (Charlie Kirk, Tony Ward and Kevin Fenley), along with an employee invested additional finance to aid the cashflow
Shortly after this, Charke Kirk refused to invest the agreed level of funding and gave the other directors an ultimatum, either he would put the Company into a form of insolvency or he would resign
Administrators' statement of proposals (2012-06-14) · Companies House register