G Force Groundworks Ltd (07842209): administration
- Status
- Administration ended
- Administration began
- 2017-08-11
- Incorporated
- 2011-11-10
- Location
- Bristol
- Industry
- 42990 Construction of other civil engineering projects n.e.c.
Why it went into administration
- Parent or group failure
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Management failings / irregularities
From the administrators' statement
On 3 July 2017 South West and Wales Business Recovery was introduced to the Group through an external source, to provide initial advice on their financial position. The Group was insolvent as it was unable to meet its liabilities as they fell due and was facing pressure from creditors, with threats of winding up proceedings.
Groundworks was incorporated in November 2011 by the Directors / Shareholders Jason Cox and Bleddyn Powles. The company originally traded as a groundworks and civil engineering company on a small scale, with on average 10 sub contracted employees working on driveways, gardens and other small projects.
Within the first 12 months Groundworks grew significantly when it won contracts to work on Singleton Hospital and Liberty stadium groundworks. The rail industry at this point was growing exponentially so the Directors decided to diversify towards labour supply for railways work, as this is where the most lucrative work seemed to be.
Administrators' statement of proposals (2017-10-09) · Companies House register