Lafford & Leavey (Joinery) Limited (07683806): administration
- Status
- Administration ended
- Administration began
- 2015-02-06
- Administrators' firm
- Revive Business Recovery
- Incorporated
- 2011-06-27
- Location
- Doncaster
- Industry
- 43320 Joinery installation
Why it went into administration
- Bad debts / customer insolvency
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- HMRC / tax arrears
- Sustained trading losses
From the administrators' statement
The Company, was incorporated on 27 June 2011 with Paul Godden as the sole director and shareholder The Company commenced trading immediately as a traditional joinery manufacturing company specialising in all aspects of purpose made Joinery products
The Company purchased the assets and order book of Double L Joinery Limited, a company that Paul Godden had been a director of, which, as a result of the recession and non-payment of its debts by its customers, was liquidated in June 2011 This company had traded successfully for 18 years prior to the recession
The Company traded well and profitably for the first 18 months At the start of 2013, contracts became harder to secure and the Company suffered from many bad debts, severely affecting the cashflow and the Company was forced to take on contracts with much lower profit margins
Administrators' statement of proposals (2015-04-09) · Companies House register