Prestige Aggregates Limited (08217871): administration
- Status
- In administration
- Administration began
- 2025-03-14
- Administrators
- Emily Louise Oliver, Dean Anthony Nelson
- Administrators' firm
- PKF
- Incorporated
- 2012-09-17
- Location
- Derby
- Industry
- 46730 Wholesale of wood, construction materials and sanitary equipment
Why it went into administration
- Creditor pressure / legal action
- Property / lease costs
From the administrators' statement
3.1 Just prior to the Joint Administrators involvement, the Company had been presented with a winding-up petition from a creditor. The liability was discharged by the Company, to ensure that the petition was dismissed. However, the Directors were fearful that a further petition was going to be presented.
3.2 As such, following the initial advice call between Dean Nelson from PKF Smith Cooper and one of the Directors, on 7 February 2025, it became clear that the Company needed immediate protection from creditors. After discussing the options available to the Company, it was determined that the Company was capable of being rescued as a going concern, which would achieve a better result for creditors, than ceasing to trade and proceeding with a winding-up procedure.
3.3 As such, on 7 February 2025, the firm was engaged to advise / assist the Board with the following (where necessary):-
Administrators' statement of proposals (2025-04-07) · Companies House register