AXA Build & Maintenance Limited (07138053): administration
- Status
- Administration ended
- Administration began
- 2019-09-27
- Administrators
- Anthony Murphy
- Administrators' firm
- Insolvency (London)
- Incorporated
- 2010-01-27
- Location
- London
- Industry
- 41202 Construction of domestic buildings
Why it went into administration
- Creditor pressure / legal action
- Loss-making contracts / project overruns
- Sustained trading losses
From the administrators' statement
1.8.1. A reduction in turnover caused by a loss of work being provided by the Networks.
1.8.2 Unfavourable and varied payment terms from the Networks, which made cashflow management very difficult and continually placed pressure on the Company's cashflow resources.
1.8.3. Depending on the individual Network company involved, Axa would typically receive payment anywhere from 30 to 90 days after submitting its final claim or invoice for the works it had completed.
Administrators' statement of proposals (2019-12-12) · Companies House register