Pentagon Consultancy Ltd (11012488): administration
- Status
- Administration ended
- Administration began
- 2022-03-04
- Administrators
- Paul Stanley, Jason Dean Greenhalgh
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2017-10-13
- Location
- Manchester
- Industry
- 78109 Other activities of employment placement agencies
Why it went into administration
- COVID-19
- HMRC / tax arrears
- Brexit
From the administrators' statement
The following has been provided by the directors of the Company:
The company was incorporated on 13 October 2017 and started trading in February 2020 as a supplier of temporary staff to the industrial, engineering and transport marketplace. Security was provided to WeDO Finance Ltd in the form of a fixed and floating charge created on 7 December 2021.
Staff were supplied on a day-to-day basis with no contracts with clients only terms of business with no commitment to use staff. Two weeks later the Covid pandemic hit and virtually 85 percent of the turnover was wiped out. The few remaining staff used for the next several months were mainly drivers in the sectors who remained open although this was at drastically reduced levels. Industrial and engineering requirements were dramatically affected. The majority of the staff were furloughed to keep the business afloat. Then with the introduction of IR35 drivers who had historically operated as limited company suppliers had to become employees in house to be compliant under the new legislation. Some did but a lot of drivers left or retired and this further affected turnover and profitability.
Administrators' statement of proposals (2022-03-16) · Companies House register