Orwelco (Holdings) Limited (06946051): administration
- Status
- Administration ended
- Administration began
- 2011-11-09
- Administrators
- Richard Ian Williamson
- Administrators' firm
- Blend Accountants
- Incorporated
- 2009-06-27
- Location
- Blackpool
- Industry
- 2852
Why it went into administration
- Cash flow / liquidity pressure
- Loss of key people
From the administrators' statement
The Company was incorporated on 27% June 2009 it was created as a non trading vehicle, set up for the sole purpose of holding assets and shares for subsidiary companies, initially Orwelco (Barrow) Limited (‘Barrow’) and subsequently Waites Pressings Limited (‘Waites’) It also employed the staff working for Barrow and Waites
The directors initially sought advice from Campbell, Crossley and Davis on 21 October 2011, when it became apparent that Orwelco (Barrow) Limited was unable to pay its debts when they were due Whilst | had met the Finance Director informally, he left and the first meeting between us and the directors was held on 28" October 2011 At this meetng, all aspects of the Company's financial situaton were considered and it was decided that the Company be placed into Administration
As a result, | was appointed Admmnistrator of the Company by the Directors, on 9" November 2011 At the same
Administrators' statement of proposals (2012-01-13) · Companies House register