# Avpe Durham Limited (12773782)

> Why UK company 12773782 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/12773782

- **Status:** Administration ended
- **Administration began:** 2021-10-06
- **Administrators:** Matthew James Higgins, Allan David Kelly
- **Administrators' firm:** FRP Advisory
- **Formerly:** Altec CNC Limited
- **Incorporated:** 2020-07-28
- **Location:** Newcastle upon Tyne
- **Industry:** 25620 Machining

## Why it went into administration

- COVID-19
- Supply chain disruption
- Cash flow / liquidity pressure
- Funding withdrawn / unable to refinance
- HMRC / tax arrears
- Sustained trading losses
- Parent or group failure

## From the administrators' statement

The Company provided precision engineered machined components across multiple sectors including medical, aerospace, oil & gas and energy from leasehold premises in Bowburn, County Durham. It has approximately 43 employees.

It was previously a division of Altec Engineering Limited (‘Altec’) and was demerged into a separate limited company during July 2020 in order to facilitate a sale of the business. ;

In October 2020, the Company was acquired for £1.7m by AVPE Investment Limited (‘Avon”) to support their group’s diversification from aerospace. Consideration was _paid partly on completion but the substantial proportion was payable on deferred terms secured by a debenture in favour of Altec.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/12773782/filing-history/MzMyOTA4MzY1NmFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/12773782

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.