J8 Precision Limited (06950331): administration
- Status
- Administration ended
- Administration began
- 2015-05-08
- Administrators
- Mark Newman, James Patrick Nicholas Martin
- Administrators' firm
- The Wilkes Partnership
- Formerly
- Edwards Corporation Limited
- Incorporated
- 2009-07-02
- Location
- Oldbury
- Industry
- 25620 Machining
Why it went into administration
- Loss of a key customer, supplier or contract
- Bad debts / customer insolvency
- Cash flow / liquidity pressure
- Property / lease costs
From the administrators' statement
The Company was incorporated in July 2009 The Company's purpose was to provide precision engineering and manufacturing solutions to the automotive, aerospace, power, medical and defence industries
The business was initially funded by way of a £350,000 cash injection introduced by the principal shareholder, Mary Edwards Mary Edwards ts also a director of the Company, along with her daughter, Kate Edwards, who became the managing director in 2010, and her son, Jack Edwards, who became a director in October 2013
The business has traded for five years It made losses, totalling circa £365,000, in tts first three years of trading, as it sought to establish itself within the market place and set up its trading premises and facilities
Administrators' statement of proposals (2015-06-24) · Companies House register