Galino Limited (SC074791): administration
- Status
- In administration
- Administration began
- 2026-07-07
- Administrators
- David Mcginness, Judith Howson
- Administrators' firm
- Aab Business & Tax Advisory
- Incorporated
- 1981-05-11
- Location
- Glasgow
- Industry
- 25940 Manufacture of fasteners and screw machine products
Why it went into administration
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Creditor pressure / legal action
From the administrators' statement
In 2026 the Company’s cashflow pressures intensified and the Company became increasingly reliant upon short-term borrowing facilities to fund day-to-day trading requirements and working capital needs. The Company was ultimately unable to repay or refinance these borrowings. In addition, significant arrears accrued with HM Revenue & Customs, and the Company was unable to secure an acceptable time-to-pay arrangement in respect of these liabilities.
By mid-2026, the Company was cashflow insolvent and unable to meet its liabilities as they fell due. Creditor pressure increased significantly, culminating in HM Revenue & Customs presenting a winding-up petition against the Company in June 2026. Recognising that the Company was no longer capable of addressing its financial difficulties through refinancing or continued trading, the director sought professional insolvency advice and took steps to place the Company into Administration.
Administrators' statement of proposals (2026-08-26) · Companies House register