# Pride Shopfitting Limited (SC244649)

> Why UK company SC244649 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/SC244649

- **Status:** Administration ended
- **Administration began:** 2017-09-29
- **Administrators:** Scott Milne, Ian William Wright
- **Administrators' firm:** Wri Associates
- **Incorporated:** 2003-02-26
- **Location:** Glasgow
- **Industry:** 82990 Other business support service activities n.e.c.

## From the administrators' statement

The company was incorporated in February 2003 and provided a comprehensive service in the shopfitting, fit-out, and internal refurbishment market throughout the UK and Ireland for different contractors and employers, building a good reputation within the industry.

Historically the company has been profitable however a lengthy shareholder dispute resulted in significant costs for the business and a major distraction for management. The most recent accounts lodged with Companies House for the year ended on 31 December 2015 indicate that the Company had profits of over £15,000 and shareholders’ funds of £55,446.

During 2017 one of the company’s customers failed to meet its payment obligations in regard to a contract with an outstanding balance of approximately £400,000. The customer undertook to make payments by instalments but failed to adhere to this agreement. The company engaged legal agents to help with the recovery of the debt due and negotiations commenced in respect of repayment by the customer. Due to the significant impact on the company’s cashflow and its inability to meet supplier repayments, the Company reached out to suppliers for support. Some suppliers were prepared to wait for payment, however a number arranged for demands to be served and threatened to petition to wind up the company.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/SC244649/filing-history/MzE5MDM2MjkwMmFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/SC244649

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.