Cormac Limited (SC154373): administration
- Status
- Administration ended
- Administration began
- 2014-05-23
- Administrators
- Blair Carnegie Nimmo, Gerard Anthony Friar
- Administrators' firm
- KPMG
- Incorporated
- 1994-11-18
- Location
- Glasgow
- Industry
- 25990 Manufacture of other fabricated metal products n.e.c.
Why it went into administration
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- HMRC / tax arrears
- Creditor pressure / legal action
From the administrators' statement
The Company was incorporated on 8 November 1994 by Stephen Corbett (Snr), primarily operating as a manufacturer and installer of bitumen storage tanks, asphalt plants and dredging equipment.
Following the purchase of Lothian Engineering Limited (“Lothian”) in 2001, the Company operated from owned premises at Unit 1, Burnhouse Industrial Estate, Whitburn, West Lothian, EH47 OLQ. The business and assets of Lothian were subsequently transferred to the Company, t/a Cormac Engineering” with Lothian being dissolved in February 2011.
The Company generated turnover of c.£4.2 million and reported net profits of c.£130,000 in the year ended 3] December 2013.
Administrators' statement of proposals (2014-07-14) · Companies House register