Enterra Limited (SC527323): administration
- Status
- Administration ended
- Administration began
- 2018-03-19
- Administrators
- Kenneth Wilson Pattullo
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2016-02-19
- Location
- Aberdeen
- Industry
- 25110 Manufacture of metal structures and parts of structures
Why it went into administration
- Property / lease costs
- Loss of a key customer, supplier or contract
From the administrators' statement
The company commenced trading in February 2016 trading in the oil and gas sector.
Substantial funds were invested by the company directors in order to secure machinery required to successfully compete in the market and to cover initial creditor costs before contracts were secured.
Contracts were won by the company and it was anticipated these would be sufficient to enable the company to trade profitably. Additional funding was secured from third parties by way of invoice financing and a loan subject to a floating charge.
Administrators' statement of proposals (2018-05-23) · Companies House register