Zisman Bowyer and Partners LLP (OC310053): administration
- Status
- Administration ended
- Administration began
- 2013-01-28
- Administrators' firm
- RSM
- Incorporated
- 2004-11-17
- Location
- Enderby
Why it went into administration
- Cash flow / liquidity pressure
From the administrators' statement
Founded in 1958, the Partnership was well established in providing engineering consultancy to both the private and public sector The Partnership became an LLP in 2004
The Partnership's key successes resulted from consultancy fees on large publicly funded projects such as hospitals, universities and research facilities
During 2012 the Partnership engaged Clearwater Corporate Finance LLP (“Clearwater’) to assist the Partners in finding a purchaser for the Partnership, unfortunately this was unsuccessful During this period, the Partnership also lost some key tenders, not only did this reduce future likely income by £6,000,000 but It also resulted in a write off of the time and resource spent on the tenders As a result of these losses, the Partnership began to experience cashflow difficulties Once this was identified the Partners sought advice to ensure that appropriate action was taken
Administrators' statement of proposals (2013-04-02) · Companies House register