Hunter Wilson Limited (SC049247): administration
- Status
- In administration
- Administration began
- 2024-12-18
- Administrators
- Alan David Fallows, Claire Louise Middlebrook
- Administrators' firm
- Xeinadin
- Formerly
- Hunter Wilson & Partners Limited
- Incorporated
- 1971-09-30
- Location
- Edinburgh
- Industry
- 16100 Sawmilling and planing of wood
Why it went into administration
- Cash flow / liquidity pressure
- Competition / price pressure
From the administrators' statement
3.1 The director of Hunter Wilson Limited approached the Joint Administrators in September 2024 to help advise on the options available for the company. It was discussed that in the event of an insolvency procedure being implemented by Clifford Jones Timber Ltd (who are a connected company) that a liability would crystalise to Hunter Wilson Limited under their joint and several liability. Therefore, once Clifford Jones Timber Ltd was placed into administration, Hunter Wilson Limited would have a £600,000 joint and several liability which would make it technically insolvent and subsequently the only outcome was for both companies to enter administration.
3.2 The director was asked to provide information on any parties that they were aware of, who would be interested in purchasing the assets of the company, and who would be willing to have the employees transferred to them as part of the sale. The director was asked to advise of any marketing conducted by the company prior to our engagement and he confirmed that the business had not been previously marketed for sale by the company.
3.3 Prior to the Joint Administrators’ appointment taking place Middleton Barton Asset Valuation Ltd (MBV) were instructed to market the assets of the company with the valuation being received on 17 October 2024. MBV - the agents completed an extensive marketing process which comprised of:
Administrators' statement of proposals (2025-01-31) · Companies House register