Atag Cable Solutions (UK) Ltd (08290714): administration
- Status
- Administration ended
- Administration began
- 2023-07-21
- Administrators
- Gillian Margaret Sayburn, Andrew Little
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2012-11-12
- Location
- 54 New Bridge Street West
- Industry
- 27320 Manufacture of other electronic and electric wires and cables
Why it went into administration
- COVID-19
- HMRC / tax arrears
- Rising costs / inflation
- Weak consumer demand
- Energy costs
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Competition / price pressure
From the administrators' statement
The Company was incorporated on 12 November 2012 and began trading in April 2013 following the purchase of the North East manufacturing division of Clynder Cables Limited. The primary trading activities of the Company is the manufacture and sales of specialist cabling products. The Company began trading with 6 employees from premises in Shildon before moving to larger premises in Newton Aycliffe. In April 2015 one of the Company’s longstanding customers who accounted for 15% of their annual sales went into Administration owing £23,000. The Company bought the business, which dealt with assembly-only and a small number of staff were retained to run this part of the business. New premises were found in Workington to facilitate the new assembly division.
In 2018, due to the growth in the assembly division but also to control the spiralling costs, the division was relocated into the existing premises in Newton Aycliffe.
By January 2020 the Company had built up the assembly division to represent 35% of turnover and had a healthy order book and surplus cash. However, the COVID-19 pandemic arrived in March 2020 which saw significant order losses, delays in materials being delivered and a general downturn in business due to the pandemic.
Administrators' statement of proposals (2023-09-16) · Companies House register