Stanref International (2017) Limited (10989150): administration
- Status
- Administration ended
- Administration began
- 2018-03-05
- Administrators
- Andrew Mctear, Christopher Nigel Mckay
- Administrators' firm
- FRP Advisory
- Formerly
- Fernats Opco Limited
- Incorporated
- 2017-09-29
- Location
- Norwich
- Industry
- 28990 Manufacture of other special-purpose machinery n.e.c.
Why it went into administration
- Parent or group failure
From the administrators' statement
The Company incorporated on 29 September 2017 as Fernats Opco Limited but changed its name on 3 October 2017 to Stanref International (2017) Limited after it acquired the business and assets via a pre-pack administration sale on 2 October 2017 from a company called 01662739 Limited (formerly known as Stanref International Limited) (“01662739 Ltd”). The latter incorporated in 1982 and specialised in the manufacture of pressure vessels and heat exchangers for the commercial and industrial refrigeration industry, as well as the manufacture of heater shells and filtration vessels for the oii, gas and petrochemical sector. It had a diverse client base which included customers located throughout the UK, Europe and the Middle East.
Having purchased the business and assets the directors focused on increasing the sales pipeline with some success. However, the Company had only been granted a license to occupy the trading premises until 31 May 2018 and the fandiord, who wanted to sell the property, was not prepared to extend this. The directors found new trading premises however these required planning consent for change of use and modifications and following delays in agreeing Heads of Terms with the prospective landlord the Company ran out of time. To have to cease trading and mothball the Company would have been too damaging and when the Company lost the financial support of its parent company it became insolvent.
Administrators' statement of proposals (2018-04-16) · Companies House register