Owen Electrical Contracts Limited (07205945): administration
- Status
- Administration ended
- Administration began
- 2018-03-19
- Incorporated
- 2010-03-29
- Location
- London
- Industry
- 43210 Electrical installation
Why it went into administration
- Creditor pressure / legal action
- Loss of a key customer, supplier or contract
- Funding withdrawn / unable to refinance
- Property / lease costs
From the administrators' statement
Owen Electrical Contracts Limited (“The Company”) was incorporated in March 2010 to acquire the sole proprietorship af Richard Owen, who was a fully qualified Electrical Technician that had moved on from the industry to become a full time Police Sergeant. He continued with small projects with friends and family in order to maintain a good knowledge of current regulations and legislation.
Operating with the ethos of transparency and trust, the client base grew and operating as a sole trader became impossible. The Company was formed with one director, one company secretary, (Nichola Owen) and one shareholder (Chris Riches). And an investment of £15,000 afforded the purchase of a second hand commercial vehicle, some printed work wear and registration with the required affiliations.
The client base grew, and the Company expanded slowly to support the needs of its clients. Finances were managed with caution, purchasing reliable second-hand vehicles only when required and purchased without finance to keep operating costs to a minimum. Two engineers were employed along with one administration staff employed part time. In 2011, OEC took on its first registered Electrical Apprentice with the training provider JTL.
Administrators' statement of proposals (2018-05-31) · Companies House register