Siteform Flooring Limited (07577657): administration
- Status
- Administration ended
- Administration began
- 2013-02-26
- Administrators
- Paul Robert Boyle, David Michael Clements
- Administrators' firm
- Harrisons Business Recovery and Insolvency
- Formerly
- Siteform (NW) Limited
- Incorporated
- 2011-03-24
- Location
- Manchester
- Industry
- 41201 Construction of commercial buildings
Why it went into administration
- Cash flow / liquidity pressure
- Competition / price pressure
From the administrators' statement
The company was incorporated on 24 March 2011 and started trading from Unit 4, Phoenix Court, Whitehill Industrial Estate, Stockport in October 2011.
The company opened a bank account with HSBC Bank plc from the start of trading and opened an additional bank account with Santander UK pic on 2 February 2012 It is understood that overdraft facilities were not made available on either account The main source of funding to the company was from Pulse Cashflow Finance Limited “Pulse” which operated a factoring agreement with the company
The company operated as a subcontract flooring contractor to a number of well known construction companies itself utilising mainly subcontract labour with minimal employees.
Administrators' statement of proposals (2013-04-30) · Companies House register