Welltherm Drilling Ltd (08307966): administration
- Status
- Administration ended
- Administration began
- 2025-08-06
- Administrators
- James Ronald Lumb, Howard Smith
- Administrators' firm
- Interpath Advisory
- Incorporated
- 2012-11-26
- Location
- Newcastle upon Tyne
- Industry
- 43130 Test drilling and boring
Why it went into administration
- Cash flow / liquidity pressure
- HMRC / tax arrears
- Sustained trading losses
- Funding withdrawn / unable to refinance
- Creditor pressure / legal action
- Parent or group failure
From the administrators' statement
The Company was incorporated on 26 November 2012 and employed six members of staff as at the date of the Joint Administrators’ appointment. Operating from its head office in Washington, as well as a leasehold site near Leeds, the Company undertook drilling and boring services primarily as preparatory work for the Group’s energy business (for example in preparation for installation of ground source heat pumps).
3.2 Funding and financial position of the Company
HSBC provided the Company with a business current account. The Company’s indebtedness to HSBC arises from the cross guarantee over a loan facility provided to Cenergist, which totalled approximately £1.2 million as at the date of our appointment as Joint Administrators of the Company.
Administrators' statement of proposals (2025-09-19) · Companies House register