Britair Southwest Limited (08503132): administration
- Status
- Administration ended
- Administration began
- 2022-04-01
- Administrators' firm
- Leonard Curtis
- Incorporated
- 2013-04-24
- Location
- Bristol
- Industry
- 33200 Installation of industrial machinery and equipment
Why it went into administration
- COVID-19
- Rising costs / inflation
- Cash flow / liquidity pressure
- HMRC / tax arrears
- Bad debts / customer insolvency
From the administrators' statement
The Company was incorporated on 24 April 2013 and operated as an air conditioning contractor predominately undertaking projects and installations for offices and small commercial units in the South West and London areas.
The Company enjoyed some 6 years of consistently profitable trading and built up a solid customer base. However, during 2019, the Company experienced a number of bad debts which made the cash flow position challenging. In addition, one of the Company’s directors became severely ill and was unable to work for a number of months. In order to address these issues, the Company took out a £78,750 unsecured loan with Funding Circle, which was personally guaranteed by the directors.
As a result of the onset of the Covid19 pandemic in March 2020 and the subsequent national lockdown, the Company lost some two months of revenue and liabilities such as HMRC debt began to accrue. Following the
Administrators' statement of proposals (2022-05-10) · Companies House register