From the administrators' statement

The Company was incorporated on 9 December 2003 and traded from leased premises at 1 Sinclair Drive, Oban, PA34 4DR. The Company operated in the construction sector, primarily building and fitting out residential properties.

Prior to the administration appointment the Company was working on a number of separate projects. The Company had run into cashflow difficulties due to the economic climate and the cost of jobs over-running.

The Company was coming under increasing creditor pressure and was unable to meet its liabilities as they fell due. Under severe cash flow pressures, the directors resolved that, having regard to the financial position, it was appropriate to place the Company into administration.

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Neil Mcgougan Limited (SC260558)

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