Bardsley Construction Holdings Limited (06955416): administration
- Status
- Administration ended
- Administration began
- 2019-12-19
- Administrators
- Sarah Megan Rayment
- Administrators' firm
- Kroll
- Formerly
- Fleetness 658 Limited
- Incorporated
- 2009-07-07
- Location
- Manchester
- Industry
- 64203 Activities of construction holding companies
Why it went into administration
- Sustained trading losses
- Loss-making contracts / project overruns
- Parent or group failure
From the administrators' statement
The main reasons for the Group s failure was as a result of contractual issues in Jate 2018 on three major projects which negatively impacted revenues by c£3 2m. ultimately resulting in trading losses of ck2 6m being accrued for the year
in addition to the above, new work streams had been siow In the first half of 2019 with several opportunities turned down due to the nature and risk related to them. However, a number of pending tenders were won In the months of October and November 2019 which strengthened the order book for 2020 However, as the newly won contracts were not planned to start until the New Year. there was a gap in the cash flow that further impacted the Group's balance sheet
Joint Administrators Report to Creditors and Statement of Proposals 11 February 2020
Administrators' statement of proposals (2020-02-14) · Companies House register