Walkerweld Engineering Limited (SC295835): administration
- Status
- Administration ended
- Administration began
- 2021-11-19
- Administrators
- Kerry Bailey, James Bernard Stephen
- Administrators' firm
- BDO
- Formerly
- Macnewco One Hundred and Seventy Limited
- Incorporated
- 2006-01-19
- Location
- Glasgow
- Industry
- 25990 Manufacture of other fabricated metal products n.e.c.
Why it went into administration
- HMRC / tax arrears
From the administrators' statement
The Company was incorporated on 19 January 2006. The Company operated from a head office in Cambuslang, Glasgow and operated as a welding and repair specialist from their purpose-built facility at Unit 1a, Westburn Drive, Cambuslang, Glasgow, G72 7NA together with its sister company Mitchell Engineering Group Limited who operated as a precision engineering firm.
Prior to the Covid 19 pandemic the business performed profitably, generating turnover in excess of £1m.
During 2020 and 2021 customer orders diminished significantly and led to the Company accumulating significant HMRC arrears and an increase in the level of trade creditors. The directors continually assessed the position to establish if orders would return to a level to allow the arrears and liabilities to be addressed. Unfortunately, this did not transpire and the directors came to the decision they could not continue to provide funding to the business. The directors then sought advice to consider the options available to them. No solvent solution could be identified which ultimately led to the Company being placed into administration.
Administrators' statement of proposals (2022-01-12) · Companies House register