Penman MW Limited (10432235): administration
- Status
- Administration ended
- Administration began
- 2020-01-15
- Administrators
- Blair Carnegie Nimmo, James Ronald Lumb
- Administrators' firm
- KPMG
- Incorporated
- 2016-10-17
- Location
- Newcastle upon Tyne
- Industry
- 29201 Manufacture of bodies (coachwork) for motor vehicles (except caravans)
Why it went into administration
- HMRC / tax arrears
- Creditor pressure / legal action
- Sustained trading losses
From the administrators' statement
The nature of the Company's business was a commercial vehicle bodybuilder and modifier based in Dumfries. Alongside the commercial trade, the business also had a history of expertise in the defence sector, specifically through the production of armoured vehicles. Penman MW Limited was incorporated on 17 October 2016 in order to acquire the trade and assets of Penman Engineering Limited, a company that went into administration on 31 August 2016.
As at 15 January 2020, there were 61 members of staff working at the Dumfries-based site from which Penman was trading. A total of 44 members of staff were made redundant on 15 January 2020, with a further member of staff being made redundant on 31 January 2020.
2.2. Funding and financial position of the Company
Administrators' statement of proposals (2020-03-17) · Companies House register