Platinum Engineering Ltd (06964338): administration
- Status
- Administration ended
- Administration began
- 2015-10-09
- Incorporated
- 2009-07-16
- Location
- Grimsby
- Industry
- 71121 Engineering design activities for industrial process and production
Why it went into administration
- Cash flow / liquidity pressure
From the administrators' statement
The company was incorporated in July 2009 and traded from rented premises at Units 9 & 10, Spencer Street, Grimsby, DN31 3AA The company provided fabrication and machinery services, predominantly but not exclusively to the food industry The company entered voluntary arrangement on 4" September 2014 and | was appointed Supervisor
Prior to appointment as Administrator, the discussions held with Mr Wardle, the director, centred on a liability to HM Revenue & Customs of some £111,000 that had been incurred since the commencement of the voluntary arrangement There were book debts to a value of in excess of this amount but insufficient ability to realise them, in the time available to pay HM Revenue & Customs
The company had also incurred arrears to the landlord, but this was not made known until after the Administration Order, and further demonstrates the difficulties that were being encountered
Administrators' statement of proposals (2015-11-25) · Companies House register