International Cable Management Limited (SC241392): administration
- Status
- Administration ended
- Administration began
- 2019-05-13
- Administrators
- Blair Carnegie Nimmo, Geoffrey Isaac Jacobs
- Administrators' firm
- KPMG
- Formerly
- Caspian International Cables Limited; Mountwest 444 Limited
- Incorporated
- 2002-12-19
- Location
- Glasgow
- Industry
- 09100 Support activities for petroleum and natural gas mining
Why it went into administration
- Cash flow / liquidity pressure
- Funding withdrawn / unable to refinance
- Loss of a key customer, supplier or contract
- Sustained trading losses
- Competition / price pressure
From the administrators' statement
The Company, previously known as Caspian International Cables Limited, was incorporated in December 2002 as a supplier of electrical cables, and associated products and accessories, to commercial customers, comprising, predominantly, oil and gas producers and oilfield services companies.
The Company had three employees at inception and operated from leased premises in Aberdeen.
During its early years of trading, the Company generated turnover of c£600,000, from which modest profits before tax were achieved. In 2007, the Company opened a branch in Dubai and in 2009 established a separate limited liability partnership in Kazakhstan.
Administrators' statement of proposals (2019-07-08) · Companies House register