B C Barton Limited (07891333): administration
- Status
- Administration ended
- Administration began
- 2017-08-07
- Administrators
- Richard Paul James Goodwin
- Administrators' firm
- Mobeus Equity Partners
- Incorporated
- 2011-12-23
- Location
- Birmingham
- Industry
- 25110 Manufacture of metal structures and parts of structures
Why it went into administration
- Cash flow / liquidity pressure
- HMRC / tax arrears
- Bad debts / customer insolvency
From the administrators' statement
DARK Industrial Holdings Limited (DIH) acquired the assets of B C Barton & Sons Limited in January 2012 from the Administrators. DIH already had a controlling share in DARK Sheet Metal Products at the time and the plan was to integrate the two businesses. However, a large bad debt and the subsequent impact on future trading in DSMP in the same month caused the plan to be shelved.
DSMP never fully recovered and entered a Company Voluntary Arrangement which was ultimately converted to a Creditors Voluntary Liquidation. B C Barton Limited acquired the assets from DSMP in April 2014 by way of an Asset Purchase Agreement.
The losses created a drain on cash that despite actions to reduce costs and improve margins would have resulted in the director closing the division in 2017, if Vere Engineering had not acquired it. This division was acquired in April 2017.
Administrators' statement of proposals (2017-09-26) · Companies House register