Tidemill Construction Limited (10597317): administration
- Status
- Administration ended
- Administration began
- 2020-08-19
- Administrators
- Lloyd Christopher Biscoe, Louise Donna Baxter
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2017-02-02
- Location
- Southend-on-Sea
- Industry
- 41100 Development of building projects
Why it went into administration
- Loss-making contracts / project overruns
- Cash flow / liquidity pressure
- HMRC / tax arrears
- Competition / price pressure
From the administrators' statement
Corporate background
Prior to the formation of the Company, Simon Bennett and Simon Codd (‘the Directors”) worked for the IPE Group (“IPE”) on a consultancy basis providing project management, quantity surveying and employers agent services under a consultancy company.
Whilst consulting under this arrangement, IPE had an ongoing project in Hackney suffering as a result of the main contractor going into Administration. A plan of action and agreement was formed such that Mr. Bennett and Mr. Codd’s consultancy business would be appointed to project manage the delivery of the development to completion. A structure was agreed, and the balance of the project was successfully delivered on time and within the agreed budgets.
Administrators' statement of proposals (2020-11-03) · Companies House register