Prestige Fire Rated Building Systems Ltd. (09511424): administration
- Status
- Administration ended
- Administration began
- 2018-03-27
- Administrators
- Andrew Poxon, Julien Robert Irving
- Administrators' firm
- Leonard Curtis
- Incorporated
- 2015-03-26
- Location
- Manchester
- Industry
- 81100 Combined facilities support activities
Why it went into administration
- HMRC / tax arrears
- Creditor pressure / legal action
- Funding withdrawn / unable to refinance
- Competition / price pressure
From the administrators' statement
The Company was incorporated on 26 March 2015. It was initially dormant, and was subsequently utilised as a vehicle for the acquisition of the business, trade and assets of Prestige Aluminium and Glazing Limited (CRN: 08653673) (‘PAG’) from its Administrators. The Company's registered number is 09511424,
The principal trading activity of the Company was the manufacture, supply and installation of bi-folding doors for both commercial and domestic properties. The Company operated with 7 employees from the Premises.
The Company was initially capitalised through the introduction of personal funds by its shareholder. The work carried out was largely contractual in nature with staged payments received on certified applications for payments. Given the nature of the Company's working capital requirements, trading was historically funded by obtaining finance from Bibby Financial Services Limited and Ultimate Invoice Finance Limited for which security was granted and satisfied.
Administrators' statement of proposals (2018-05-01) · Companies House register