Teamdrainageuk Ltd (12436329): administration
- Status
- Administration ended
- Administration began
- 2024-07-19
- Administrators
- Frances Henshaw
- Formerly
- Team Civils Limited
- Incorporated
- 2020-01-31
- Location
- Manchester
- Industry
- 42110 Construction of roads and motorways
Why it went into administration
- Cash flow / liquidity pressure
- HMRC / tax arrears
- Competition / price pressure
From the administrators' statement
3.1 In the period immediately prior to the Administration, the company’s cashflow had deteriorated further and the invoice discounting facility was once again at its maximum. No overdraft facility was available and therefore the director sought alternative financing. 3.2
3.3
3.4
Administrators' statement of proposals (2024-08-09) · Companies House register