Ribbon Homes Ltd (SC342958): administration
- Status
- Administration ended
- Administration began
- 2019-11-20
- Formerly
- MCA Homes (Alva) Limited
- Incorporated
- 2008-05-15
- Location
- Renfrew
- Industry
- 41100 Development of building projects
Why it went into administration
- Cash flow / liquidity pressure
- Creditor pressure / legal action
From the administrators' statement
The Company was incorporated on 15 May 2008 and traded from leased premises at 1 Tullibody Road, Alloa, FK10 2LL. The Company operated in the construction sector, primarily building residential properties. They were also engaged by other house builders carrying out plumbing and heating work on other residential developments under the trading name ‘Forrest Plumbing and Heating’.
Prior to the administration appointment the Company was working on three separate projects. The Company had run into cashflow difficulties due to a reduced payment being received for work the Company had carried out on the largest project.
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.
Administrators' statement of proposals (2020-01-16) · Companies House register