Power Developments Limited (SC260416): administration
- Status
- Administration ended
- Administration began
- 2016-06-20
- Administrators
- Stuart Preston
- Administrators' firm
- Grant Thornton
- Incorporated
- 2003-12-08
- Location
- Glasgow
- Industry
- 68100 Buying and selling of own real estate
Why it went into administration
- HMRC / tax arrears
- Management failings / irregularities
From the administrators' statement
We were not privy to any discussions / decision making prior to our appointment however we understand that having reviewed its position and after considering the options available, the secured creditor considered that it was necessary to appoint administrators and on
20 June 2016 made the direct appointment of joint administrators in accordance with Paragraph 14 of Schedule B1 to the Insolvency Act 1986.
Prior to our appointment as joint administrators, neither we nor our firm had any dealings with the Company or the directors which could preclude us from acting as joint administrators of the Company.
Administrators' statement of proposals (2016-08-12) · Companies House register