Reid Pipeline Services Limited (SC190824): administration
- Status
- Administration ended
- Administration began
- 2015-09-18
- Administrators
- James Bernard Stephen, Kerry Bailey
- Administrators' firm
- BDO
- Incorporated
- 1998-11-04
- Location
- Glasgow
- Industry
- 42990 Construction of other civil engineering projects n.e.c.
Why it went into administration
- Cash flow / liquidity pressure
- Funding withdrawn / unable to refinance
- Loss of a key customer, supplier or contract
- Loss-making contracts / project overruns
- Competition / price pressure
From the administrators' statement
> The Company was incorporated on 4 November 1998 and its principal activity is that of pipe laying, drainage and reinstatement works for the utility sector.
> Since its formation, the business has been owned and managed by Dennis and Deana Reid, the Directors of the Company (“the Directors”).
> The business traded from premises located in Dumfriesshire that are personally owned by the Directors. The Company traded nationally and employed 8 members of staff.
Administrators' statement of proposals (2015-11-12) · Companies House register