Firmitas Limited (09251495): administration
- Status
- Administration ended
- Administration began
- 2021-01-26
- Administrators
- Tyrone Courtman, Adrian David Allen, Deviesh R Raikundalia
- Administrators' firm
- RSM
- Incorporated
- 2014-10-07
- Location
- Leicester
- Industry
- 41100 Development of building projects
Why it went into administration
- COVID-19
- Sustained trading losses
From the administrators' statement
The Company operated as a building contractor, specialising in residential and commercial projects, and traded from leased office premises in Guildford, Surrey. Most projects were undertaken under JCT type construction contracts which are standard type contracts, usually drafted in the customer’s favour. The Company achieved total revenues of £6.6m in the year ended 30 September 2020 and £0.6m in the three months ended December 2020.
The Company had seven employees. All other employees had been transferred to the group holding company Vitruvian Group Limited (‘Vitruvian’).
The Company incurred a significant loss in the year ended October 2018 due to one contract being taken to adjudication, and the client continuing to refuse to pay for the work. In addition, other contracts had been taken on at low margins. Performance in the 11 months to September 2019 was improved, but the prior losses continued to place a strain on the Company’s cashflow.
Administrators' statement of proposals (2021-03-27) · Companies House register