David Einig Plant Limited (07870885): administration
- Status
- Administration ended
- Administration began
- 2019-03-28
- Administrators
- Geoffrey Paul Rowley, David Frederick Shambrook
- Administrators' firm
- FRP Advisory
- Incorporated
- 2011-12-05
- Location
- London
- Industry
- 68209 Other letting and operating of own or leased real estate
Why it went into administration
- Cash flow / liquidity pressure
- Funding withdrawn / unable to refinance
- Loss of a key customer, supplier or contract
- Competition / price pressure
From the administrators' statement
DEC was Incorporated on 6 April 2010 providing specialised equipment hiring services across three divisions - plant hire, land restoration and agricultural. DEC operated from Unit 1, Christmas Lane, Thame, Oxfordshire, OX9 2FY and its main customers were based in Oxfordshire, Buckinghamshire, Berkshire and the surrounding areas.
DEC’s sole director and shareholder is David Einig. On appointment DEC had 94 employees, all of whom were subsequently made redundant.
DEC utilised an invoice discounting facility provided by Bibby to provide working capital. Bibby have an all asset debenture (created on 20 October 2017) as security over DEC in respect of amounts advanced and all debtors are assigned to Bibby under the terms of the facility.
Administrators' statement of proposals (2019-06-03) · Companies House register