Axiom N D T Limited (SC091187): administration
- Status
- Administration ended
- Administration began
- 2019-05-31
- Administrators
- Stuart Robb, Michelle Marie Elliot
- Administrators' firm
- Leonard Curtis
- Incorporated
- 1985-01-11
- Location
- Glasgow
- Industry
- 82990 Other business support service activities n.e.c.
Why it went into administration
- HMRC / tax arrears
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Bad debts / customer insolvency
- Loss of a key customer, supplier or contract
From the administrators' statement
The Company was established on 11 January 1985 and provided testing and quality assurance services to the offshore engineering and fabrication industries.
The Company operated four key service lines; maintenance; inspection NDT; lifting; and industrial rope access to the offshore oil and gas production market. The Company was principally a service business and was heavily reliant upon its subcontractors. The Company had contracts with two main customers, with all other work being undertaken on an ad hoc purchasc order basis. In more recent years, the business expanded into the renewable energy sector, successfully completing a number of overseas projects.
During the summer of 2018, the Company had a dispute with a customer, Offshore Marine Management Limited (OMM’) relating to an offshore renewables project. This resulted in a significant bad debt under the contract of c.£500k and the Company raised a legal action to pursue OMM for payment.
Administrators' statement of proposals (2019-06-19) · Companies House register