Vincico Electronics Ltd (08544250): administration
- Status
- In administration
- Administration began
- 2025-11-13
- Administrators
- Gary Steven Pettit
- Administrators' firm
- PBC Business Recovery & Insolvency
- Formerly
- Vincico Ltd
- Incorporated
- 2013-05-24
- Location
- Northampton
- Industry
- 26400 Manufacture of consumer electronics
Why it went into administration
- HMRC / tax arrears
- COVID-19
From the administrators' statement
The company were manufacturers of consumer electrical goods and commenced trading in 2013 by the director who, at the time, had circa 25 years’ experience in the industry.
The effects of the COVID-19 lockdown created significant difficulties, including delays in developing projects. As a result of these difficulties, the Company fell into arrears with tax liabilities that resulted in reaching a time to pay agreement (“TTP”) with HM Revenue & Customs. Unfortunately, a large project that was envisaged would have provided the funding for the TTP was cancelled by the principal customer, resulting in the TTP defaulting.
Coupled with a significant fall in sales, the Company cashflow suffered still further. However, the pipeline of anticipated work was sufficient to convince the director it was more beneficial to trade on.
Administrators' statement of proposals (2025-12-15) · Companies House register