Ductmate (Europe) Limited (SC078814): administration
- Status
- Administration ended
- Administration began
- 2016-08-01
- Administrators
- Gavin Yuill, Robert Hunter Kelly
- Administrators' firm
- EY
- Incorporated
- 1982-05-24
- Location
- Glasgow
- Industry
- 46900 Non-specialised wholesale trade
Why it went into administration
- Sustained trading losses
- Cash flow / liquidity pressure
- Creditor pressure / legal action
From the administrators' statement
GGL and DEL were incorporated in 1961 and 1982 respectively. The principal activities of GGL and DEL were the fabrication, design and installation of ductwork for customers across the construction, marine, oil & gas, nuclear and process industry sectors. DEL was involved in the sale and distribution under licence of duct joining products on a worldwide basis (excluding the US) which were manufactured by GGL.
The recent financial results of the Companies can be summarised below. Management have advised that full monthly management accounts continued to be prepared up until May 2016 however the Group continued to be loss making.
GGL Type Gross Gross Directors’ Net Loss Accumulated Period Yearor Audited/ Turnover Profit Profit Remuneration after Tax Reserves Period Ended Draft £000 £000 % £000 £000 £000 12 months Draft 10,668 = 2,745 = 26.0 Unknown Unknewn Unknown ended 31 August 2015 _ . _ . oe eee . 48 months Audited 22,602 4,432 19.6 955 {2,147) 815 ended 31 August 2014 - -- ce wae mee 12 months Audited 14,796 3,678 24.9 443 (499) 3,135 ended 6 March DEL Type Gross. Gross Directors’ Net Profit Accumulated Period Year or Audited/ Turnover Profit Profit Remuneration after Tax Reserves Period Ended Draft £000 £000 % £000 £000 £000 12 months Draft 4,344 977 220 NA Unknown Unknown ended 34 August 2015 - - _ Le - - 18 months Audited 5,859 1,667 28.5 NIA 487 2,831 ended 31 August 2014 _ 12 months Audited 4,142 1,169 28.2 NIA 293 2,344 ended 6 March
Administrators' statement of proposals (2017-03-16) · Companies House register