Mclaren & Co. Painters & Contractors Limited (SC096119): administration
- Status
- Administration ended
- Administration began
- 2013-12-12
- Administrators
- Ian Scott Mcgregor
- Administrators' firm
- Grainger Corporate Rescue & Recovery
- Incorporated
- 1985-11-26
- Location
- Glasgow
- Industry
- 43341 Painting
Why it went into administration
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Bad debts / customer insolvency
- Loss-making contracts / project overruns
- Over-expansion / investment not recovered
- Sustained trading losses
From the administrators' statement
The company operated as commercial painting contractors from leased premises based at 7 Anderson Avenue, Aberdeen, AB 24 4LR and with a satellite operation in Glasgow.
The company is 100% owned by McLaren Group Scotland Limited, a non trading company.
The business was established in 1985 and operated mainly out of its Aberdeen base, mainly on a sub-contracting basis, with approximately 70% of the company’s turnover generated from Aberdeen. The company provided services such as carrying out traditional painting and decoration work across a_ wide commercial field, including large offices, local authority and government buildings, factories, sports halls, hospitals, schools and universities.
Administrators' statement of proposals (2014-02-10) · Companies House register