B3 Industries Limited (07129640): administration
- Status
- Administration ended
- Administration began
- 2012-05-16
- Administrators
- Allan Watson Graham, Colin Michael Trevethyn Haig, Paul Andrew Flint
- Administrators' firm
- KPMG
- Incorporated
- 2010-01-19
- Location
- Manchester
- Industry
- 25990 Manufacture of other fabricated metal products n.e.c.
From the administrators' statement
From mid 2011, the Group has suffered significant pressure on its cash flows. There are a number of contributing factors to the pressure on the cash flows of the Group, which include the demands on working capital attributable to the acquisitions of Tn-Wire and Blue Helix Limited in September and October 2011
Furthermore, the manufacturing facilities of both MCL and B3 Spain had been operating significantly below capacity, which had arisen from dechning sales This resulted 1n the high fixed overhead base becoming a drain on the Group cash flow
KPMG LLP (“KPMG”) was introduced to the Group in November 2011 and were engaged by PNC to carry out a cash flow review, shortly after the Group had made a request for additional funding from PNC
Administrators' statement of proposals (2012-07-13) · Companies House register