JWT Commercial Ltd (07803885): administration
- Status
- Administration ended
- Administration began
- 2021-01-06
- Administrators
- Philip Joseph Dakin, Janet Burt
- Administrators' firm
- Kroll
- Incorporated
- 2011-10-10
- Location
- Manchester
- Industry
- 49410 Freight transport by road
Why it went into administration
- Loss of a key customer, supplier or contract
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Bad debts / customer insolvency
- Sustained trading losses
- Management failings / irregularities
- Competition / price pressure
From the administrators' statement
As you will be all too aware, 2020 was a very challenging year for a vast majority of businesses. With regard to JWT, the loss of a major customer in June 2020 had a significant impact on turnover and trading performance.
Additionally, the Company saw reductions to customer credit limits by the insurer market, as a result of the ongoing challenges in the business environment, and this also had an impact on the Company’s ability to trade.
An increase in creditor pressure heightened the Company's financial difficulties, resulting in the position whereby the Company was unable to trade in its current guise.
Administrators' statement of proposals (2021-03-10) · Companies House register