# Port Loop Limited (13645212)

> Why UK company 13645212 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/13645212

- **Status:** Administration ended
- **Administration began:** 2022-05-11
- **Administrators:** Julian Heathcote, Daniel James Mark Smith
- **Administrators' firm:** Teneo
- **Incorporated:** 2021-09-27
- **Location:** Birmingham
- **Industry:** 96090 Other service activities n.e.c.

## Why it went into administration

- Funding withdrawn / unable to refinance
- Sustained trading losses
- Cash flow / liquidity pressure

## From the administrators' statement

The Group identified a potential funding shortfall in early 2022. We understand that the primary driver behind the Group’s funding shortfall was the under-performance of its modular factory facility, which had been loss making for a prolonged period. This underperformance in the factory was attributed to a number of factors including:

* under utilisation (and inability to absorb overhead costs); and

« design issues resulting in production defects and re-working the modular units, the costs of which could not be passed on to the developer.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/13645212/filing-history/MzM0NDY1NDY0MGFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/13645212

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