Formosa Access Limited (11615635): administration
- Status
- Administration ended
- Administration began
- 2022-11-11
- Administrators
- Rochelle Schofield, Lisa Ion
- Administrators' firm
- Leonard Curtis
- Incorporated
- 2018-10-10
- Location
- Salford
- Industry
- 43991 Scaffold erection
Why it went into administration
- HMRC / tax arrears
- Bad debts / customer insolvency
- COVID-19
From the administrators' statement
The Company was introduced to us by Boxwell Chartered Accountants Limited, the Company’s accountant, on 25 March 2022.
At a meeting on 5 April 2022, the Directors advised that the Covid-19 pandemic had impacted the Company’s turnover levels, which had at times dropped close to zero. Additionally, the Company had suffered from bad debts from customers, which had further impacted the Company’s cash flow. At this time, general advice on the options available was provided by Leonard Curtis Recovery (“LCR’).
A further meeting was held on 8 June 2022 between LCR and the Directors where further advice was provided.
Administrators' statement of proposals (2022-11-24) · Companies House register