Metnor Group Limited (07516867): administration
- Status
- Administration ended
- Administration began
- 2023-03-09
- Administrators' firm
- FRP Advisory
- Formerly
- Metnor Holdings Limited; Timec 1308 Limited
- Incorporated
- 2011-02-03
- Location
- Gosforth
- Industry
- 70100 Activities of head offices
Why it went into administration
- COVID-19
- Funding withdrawn / unable to refinance
- Parent or group failure
- Brexit
From the administrators' statement
The Company was incorporated on 3 February 2011 under company number 07516867. The Company’s registered office address at the appointment of administrators was Metnor House, Mylord Crescent, Killingworth, Newcastle upon Tyne, NE12 5YD. The Company employed 18 people and the directors were Adam Langman, Christopher Cant, Christian McDonnell, Ben Rankin and Tom Rankin. The Company is the sole shareholder of Metnor Construction and Norstead.
The Company was a holding company and provided back office services including accounting, HR and premises to its subsidiaries.
While there were significant cash reserves available, a key funder made the decision to withdraw future funding on 1 February 2023 from both Norstead and Metnor Construction.
Administrators' statement of proposals (2023-05-18) · Companies House register