KFM Scaffolding Supplies Ltd. (SC396258): administration
- Status
- Administration ended
- Administration began
- 2014-10-07
- Administrators
- Brian William Milne, Eileen Blackburn
- Administrators' firm
- Quantuma
- Incorporated
- 2011-03-24
- Location
- Glasgow
- Industry
- 43991 Scaffold erection
Why it went into administration
- Bad debts / customer insolvency
- Cash flow / liquidity pressure
From the administrators' statement
KFM Scaffolding Supplies Limited ("The Company”) was incorporated at Companies House on 24 March 2011 and operated as a supplier of scaffolding related equipment.
In June 2011, the Company began to trade and made its first supplies to Customers. The company had achieved sales of roughly £750k for the period ended 31* Dec 2011, however, made a small loss due to an exceptional setup cost.
In March 2012 the Company had begun to provide supplies to a related entity, AC Safety Netting and Scaffolding Limited (“AC Safety"). However, by December 2012, the outstanding debt due from AC Safety was higher than the Company directors would have preferred.
Administrators' statement of proposals (2014-11-10) · Companies House register