Clarke Nicholls Marcel (Civil & Structural Engineers) Limited (07112503): administration
- Status
- Administration ended
- Administration began
- 2023-11-16
- Administrators
- Mehmet Arkin
- Formerly
- Allbray Limited
- Incorporated
- 2009-12-24
- Location
- Barnet
- Industry
- 42990 Construction of other civil engineering projects n.e.c.
Why it went into administration
- Rising costs / inflation
- Funding withdrawn / unable to refinance
- Creditor pressure / legal action
- Sustained trading losses
From the administrators' statement
3.1 Arkin & Co was formally instructed by the Company on 18 October 2023, having initially been approached by the Directors at the end of August 2023. The Directors were concerned that the Company may be trading insolvently as liabilities could not be paid as and when they fell due.
3.2 Following a meeting with the Directors and the Company’s accountant on 22 August 2023, Mehmet Arkin of Arkin & Co referred the Directors to SIA Group Asset Ingenuity Limited (“SIA”), an independent business and asset appraiser, for advice in relation to the potential marketing and sale of the business with a view to pursuing a potential pre-pack administration.
3.3 SIA were subsequently instructed by the Company on 29 August 2023 to market the business with a view to achieving a sale.
Administrators' statement of proposals (2024-01-11) · Companies House register