Drytech Facades Limited (07203852): administration
- Status
- Administration ended
- Administration began
- 2016-02-16
- Administrators' firm
- Evelyn Partners
- Incorporated
- 2010-03-25
- Location
- London
- Industry
- 43390 Other building completion and finishing
Why it went into administration
- Cash flow / liquidity pressure
From the administrators' statement
The Company was incorporated on 25 March 2010 with Stephen Deane, Thomas McDermott and Richard Horobin as Its directors Mark Everson was latterly appointed as a director of the Company on 8 August 2013.
The Company operated as a specialist facade contractor, which involved the design, supply and installation of a wide range of extenor facade products for new build and refurbishment contracts
The Company had been expecting a very productive and profitable 2015 having won some significant contracts which were expected to generate c £13million turnover for the year However, work on two pnncipal projects (representing over half of the forecast revenue for 2015) was severely delayed (and in some cases did not start) The negative impact of this on cash flow was compounded by the Company having already applied significant resources to the necessarily extensive design phase for the projects.
Administrators' statement of proposals (2016-04-25) · Companies House register