# Provost Management Limited (09781202)

> Why UK company 09781202 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/09781202

- **Status:** Administration ended
- **Administration began:** 2023-05-02
- **Administrators' firm:** KRE Corporate Recovery
- **Formerly:** Provost Holdings Limited
- **Incorporated:** 2015-09-16
- **Location:** Reading
- **Industry:** 64203 Activities of construction holding companies

## Why it went into administration

- HMRC / tax arrears
- COVID-19
- Property / lease costs
- Sustained trading losses
- Parent or group failure

## From the administrators' statement

Following the return to work directive issued by the Government, the group sought to reinstate the work in progress and recommence the contracts that it had post pandemic. it should be noted at this stage that provost’s continued existence was completely reliant on the ability of the other companies within the group to recommence the work at prepandemic levels. it can be seen above that the group overall was seriously financially disadvantaged by the crown set off of the VAT under the time to pay arrangement against VAT reclaims, which if paid, would have assisted the company financially in what was a very difficult trading period given the backdrop of the pandemic. Added to this a number of customers reduced work commitments and scaled down operations with the group companies which meant with the primary fixed overheads of salaries and rent and the existing balance sheet liabilities it became increasingly difficult to cover them on reduced levels of turnover. The company sought the advice of KRE Corporate Recovery Limited in March of this year and it was envisaged that with a revised payment plan from HMRC and a number of “informal” arrangements with trade creditors that it could …

3.1 No Moratorium under Part A1 of the Act has been in force for the Company at any time within the period of 2 years ending with the day on which it entered Administration.

3.2. Attached at Appendix Ill is an account of the work undertaken prior to the Joint Administrators’ appointment and the costs associated with that work.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/09781202/filing-history/MzM4MzUzMjY4M2FkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/09781202

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.