WRB Groundworks Limited (07640765): administration
- Status
- Administration ended
- Administration began
- 2015-12-14
- Administrators
- Michaela Heeley, Alan Clifton
- Administrators' firm
- Empirical Insolvency
- Incorporated
- 2011-05-19
- Location
- Solihull
- Industry
- 43120 Site preparation
Why it went into administration
- Loss-making contracts / project overruns
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Creditor pressure / legal action
From the administrators' statement
WRB Groundworks Limited (hereinafter referred to as “the Company’) was incorporated on 19 May 2011 under its current trading style by Benjamin Ward, the current sole director Mr Ward had had previous construction expenence and decided to incorporate a groundworks company to work along side other group companies
The Company's accounts to 31 March 2015 showed a £259,930 profit for the year and total retained profits of £614,087
However, around August 2015, disputes arose with a main contractor who delayed payment to the Company although applications had been agreed The delayed payments led to cashflow difficulttes Mr Ward attempted to find finance to cover what he believed was a short term problem but was unsuccessful
Administrators' statement of proposals (2016-02-11) · Companies House register