Newburgh Precision Limited (08847562): administration
- Status
- Administration ended
- Administration began
- 2019-01-22
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2014-01-16
- Location
- Liverpool
- Industry
- 25620 Machining
Why it went into administration
- Cash flow / liquidity pressure
- Sustained trading losses
- Rising costs / inflation
- Loss of a key customer, supplier or contract
- Competition / price pressure
From the administrators' statement
The Company was incorporated in January 2014 and traded as a specialist precision engineer from a leasehold facility situated at Bessemer Way, Rotherham, South Yorkshire, S60 1FB.
The business was originally operated by Newburgh Engineering Co. Limited (“NECL”) but was transferred to the Company in 2014 when the two divisions of NECL split. NECL retained the Bradwell, Peak District site which focussed on the nuclear power generation market with the Company taking the Rotherham site which, at the time, specialised in the oil and gas sectors.
NECL retained ownership of the Rotherham trading premises and the Company was granted a lease to remain in occupation. We understand that approximately a year ago, NECL sold the premises to the current landlord subject to the existing lease with the Company.
Administrators' statement of proposals (2019-02-19) · Companies House register