# Rippin Limited (SC056530)

> Why UK company SC056530 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/SC056530

- **Status:** Administration ended
- **Administration began:** 2018-08-13
- **Administrators:** Alistair Mcalinden, Blair Carnegie Nimmo
- **Administrators' firm:** KPMG
- **Formerly:** Motaspeed Limited
- **Incorporated:** 1974-10-18
- **Location:** Glasgow
- **Industry:** 41201 Construction of commercial buildings

## Why it went into administration

- Cash flow / liquidity pressure
- Loss of a key customer, supplier or contract

## From the administrators' statement

m= The Company was a well established structural steel fabricator operating across Scotland and the north of England from leasehold premises in Cowdenbeath, Fife.

m= Inrecent months the Company’s cash position significantly deteriorated as a result of key customers withholding payment following contractual disputes, a significant downturn in customer orders, the insolvency of a customer and the loss of a significant order due to speculation concerning the Company’s financial position;

= The Director sought additional third party funding and to re-finance the existing LBCF facility, however, this ultimately proved unsuccessful.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/SC056530/filing-history/MzIxNjg2MDA5NGFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/SC056530

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