JCO Group Limited (09492403): administration
- Status
- Administration ended
- Administration began
- 2018-10-16
- Administrators
- Darren Wilson
- Administrators' firm
- DKF Insolvency
- Formerly
- JCO Landscapes Limited
- Incorporated
- 2015-03-16
- Location
- Southend-on-Sea
- Industry
- 81300 Landscape service activities
Why it went into administration
- Creditor pressure / legal action
- Cash flow / liquidity pressure
- Bad debts / customer insolvency
From the administrators' statement
3.1 As detailed above, the Company has not been paid in respect of works carried out and as a result, issued a statutory demand for payment.
This demand has been challenged and an adjudication notice was issued. Due to the time that has elapsed since the Company issued the 7-day notice to suspend works for non-payment and the delays in the adjudication process, creditor pressure has mounted and the Company is unable to pay its debts as and when they fall due.
3.2 On 27 September 2018, Darren Wilson of DKF Insolvency Limited had a meeting with the directors where the financial position of the Company and options available were discussed.
Administrators' statement of proposals (2018-12-24) · Companies House register