GCL Hire Limited (13955374): administration and why it failed

GCL Hire Limited (13955374): administration

Status: Administration ended
Administration began: 2024-09-06
Administrators: Gareth Harris, Lee Van Lockwood
Administrators' firm: RSM
Formerly: GCL Plant Hire Ltd
Incorporated: 2022-03-04
Location: Leeds
Industry: 43999 Other specialised construction activities n.e.c.

Why it went into administration

Funding withdrawn / unable to refinance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

From the administrators' statement

Relevant extracts from the Company's filed financial statements and management accounts are summarised below. Due to the age of the Company, only one set of accounts have been filed since incorporation.

Period ending 31/08/2023 Revenue 975,445 Gross profit 455.357 Operating Profit 2,979 Net profit / loss (1,181)

Administrators' statement of proposals (2024-10-14) · Companies House register

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