G.I. Signage Limited (07246034): administration
- Status
- Administration ended
- Administration began
- 2018-06-05
- Incorporated
- 2010-05-06
- Location
- Fareham
- Industry
- 32990 Other manufacturing n.e.c.
Why it went into administration
- HMRC / tax arrears
- Loss of a key customer, supplier or contract
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Creditor pressure / legal action
From the administrators' statement
The company started trading in 2010 producing signage for shops and events, with Mr Jamie Allen as the sole director The Company was asked to provide some street signs for Southampton City Council, which in turn led to the company being asked to fit them. This resulted in the company carrying out various small works such as installing street furniture and laying new kerbs. From this the company grew, completing increasingly larger contracts and working across the south of England. As the number of contracts and the accompanying traffic management side of the business grew, the company phased out the signage part of the business.
The company traded from leased premises at Cartland Commercial Premises, First Avenue, Millbrook, Southampton, Hampshire, S016 OLG
In 2012 the company entered into an invoice financing facility with Lloyds Bank Commercial Finance Ltd (LBCF) to help with cash flow. As the level of both civil and traffic management works increased, the director decided to form a second company, G! Traffic Management Ltd (GITM), in May 2014. The break away was required as the cash flow requirements for the traffic management side of the business were increasing significantly and needed to be separated from the core business
Administrators' statement of proposals (2018-12-03) · Companies House register