Infinity Tubes Ltd (09843576): administration
- Status
- Administration ended
- Administration began
- 2019-03-05
- Administrators
- Paul David Masters, Conrad Alan Beighton
- Administrators' firm
- Leonard Curtis
- Incorporated
- 2015-10-27
- Location
- Birmingham
- Industry
- 25990 Manufacture of other fabricated metal products n.e.c.
Why it went into administration
- HMRC / tax arrears
- Cash flow / liquidity pressure
- Competition / price pressure
From the administrators' statement
The Company was incorporated on 27 October 2015, originally set up as a merchant of steel tubes. The Company traded from leasehold premises at Unit 9 Monmore Business Park, Dixon Street, Wolverhampton WV2 2BT, and employed 11 members of staff prior to the Joint Administrators’ appointment.
From May 2017, the Company was funded by way of an invoice discounting facility with Ultimate which holds security over the Company by way of a debenture, incorporating fixed and floating charges over all assets, which was created on 18 May 2017 and delivered on 22 May 2017.
The Company traded alongside a connected company, which produced crowd control barriers. However, in September 2017, the connected company was placed into liquidation and, accordingly, the directors made the decision to commence the manufacture of barrier products, in addition to the sale of steel tubes.
Administrators' statement of proposals (2019-04-05) · Companies House register