# SHS Cladding Limited (07312495)

> Why UK company 07312495 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/07312495

- **Status:** Administration ended
- **Administration began:** 2017-03-21
- **Administrators:** Richard Michael Hawes, Matthew James Cowlishaw
- **Administrators' firm:** Deloitte
- **Formerly:** Swanbridge Industrial Services Limited
- **Incorporated:** 2010-07-13
- **Location:** Birmingham
- **Industry:** 43290 Other construction installation

## Why it went into administration

- Sustained trading losses

## From the administrators' statement

We understand the Companies began experiencing a decline in trading performance in late 2016/early 2017, attributed to poor pricing of contracts and a lack of control over direct labour costs, particularly outside of core scaffolding activities.

In December 2016, the Companies completed a £1,750k funding round with BGF in order to remain within its banking facilities (£1,000k new money and £750k to repay an existing BGF loan}. However, in February 2017, the Group identified a further cash requirement in excess of its facilities of £750k by 31 March 2017 and 1,000k by 30 April 2017.

Steps taken to remedy/turnaround

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/07312495/filing-history/MzE3Njc0NDAxM2FkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/07312495

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.