Fruehauf Ltd (07176536): administration
- Status
- Administration ended
- Administration began
- 2021-08-05
- Administrators
- Carl Stuart Jackson, Brian N Johnson, Tauseef Ahmed Rashid
- Administrators' firm
- Quantuma
- Formerly
- Tagtime Limited
- Incorporated
- 2010-03-03
- Location
- Southampton
- Industry
- 29201 Manufacture of bodies (coachwork) for motor vehicles (except caravans)
Why it went into administration
- COVID-19
- Sustained trading losses
- Brexit
From the administrators' statement
3.1 The Company's difficulties can be attributed to the change in trading terms with the EU following Brexit, coupled with the disruptive effects of Covid-19 to the supply distribution chain and a global shortage of materials (particularly electronics), which has resulted in a marked reduction in sales volume and gross margins.
3.2. The factory has had to close periodically and the Company has utilised the Government furlough scheme due to the slowdown in the business.
3.3. The Company's draft accounts for the year ended 30 September 2020, show a significant loss for the year of £2.7m.
Administrators' statement of proposals (2021-09-28) · Companies House register