Dako Construction Limited (11481592): administration
- Status
- Administration ended
- Administration began
- 2023-01-20
- Administrators
- Rehan Ahmed, Tauseef Ahmed Rashid
- Administrators' firm
- Quantuma
- Incorporated
- 2018-07-24
- Location
- Nottingham
- Industry
- 43999 Other specialised construction activities n.e.c.
Why it went into administration
- Cash flow / liquidity pressure
From the administrators' statement
The Company experienced a steady cash flow in its trading years, however the Company faced financial difficulty in December 2022. At this time, approximately £700,000 was expected from Company debtors. Unfortunately, only £130,000 was recovered in this period which resulted in cash flow difficulties for the Company.
At this point, the business did not have any liquid funds to continue trading. Despite a recent funding injection from the chargeholder, the business deteriorated significantly in its last two months of trading due to market conditions within the industry. The Company had no prospects of additional funding in order to trade through the difficulties.
Quantuma Advisory Limited were first approached by the Company on 5 January 2023 and subsequently instructed on 6 January 2023.
Administrators' statement of proposals (2023-03-21) · Companies House register