Bedrock Communications Ltd (08117135): administration
- Status
- Administration ended
- Administration began
- 2017-08-07
- Administrators
- Mark John Colman, Megan Singleton
- Administrators' firm
- Leonard Curtis
- Formerly
- Protocol Communications and Electrical Ltd; Bedrock Communications Ltd
- Incorporated
- 2012-06-25
- Location
- Preston
- Industry
- 43290 Other construction installation
Why it went into administration
- HMRC / tax arrears
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Sustained trading losses
- Rising costs / inflation
From the administrators' statement
Leonard Curtis Recovery Limited (“LCR”) were initially approached by Jeff Allsebrook of Haworths Ltd, the Company's accountants, on behalf of the Company, in June 2016 concerning the Company's financial position and to provide advice on the options available. Following the initial meeting, the director was referred to Reach, a department within LCR, in order to explore the options available to the Company with the intention of obtaining additional funding in order to improve the Company's current cash flow.
In June 2016, the Company secured additional funding from Factor 21 (North) Limited (“Factor 21”) via a factoring arrangement over the Company's book debt ledger. As such, Factor 21 hold security in the form of a debenture creating a fixed charge over the book debts and a floating charge against all other property. The charge was created on 23 June 2016 and registered on 28 June 2016. Reach have advised that a commission fee of £4,022 has been received from Factor 21 in respect to this referral fee.
The Company was incorporated on 25 June 2012. The current directors are John and Tracey Janeczko and Scott Stevens. The Company's main activity is the installation of internet infrastructure.
Administrators' statement of proposals (2017-08-24) · Companies House register