Tue, 25 Feb 2025 | ADMINISTRATION
Since our last update, the following businesses have been confirmed as having fallen into administration. All dates indicate when the administration was announced and not necessarily the dates on which administrators were appointed.
OTAQ Group Limited – February 19
OTAQ Group Limited, a marine technology group based in Lancaster, fell into administration earlier this month, with Andrew Knowles and Andrew Poxon of Leonard Curtis appointed as joint administrators.
In accounts for the year to December 31 2023, the company reported turnover of £4.2 million, up from around £1.8 million in the nine months ending December 31 2022. However, it fell from a post-tax profit of £5.2 million to a loss of £276,000.
At the time, its non-current assets were valued at approximately £5.1 million and current assets at £2.4 million, with total equity amounting to £6.7 million.
Jestermark Limited – February 19
Jestermark Limited, an East Midlands-based shopfront supplier trading as NG Shopfront Systems, fell into administration earlier this month, with Louise Williams and Ian McCulloch of Opus Restructuring appointed as joint administrators.
The company collapsed and ceased trading following a “sharp fall” in new orders, with all 14 staff made redundant prior to the appointment of administrators. In a statement, the joint administrators said that they were “currently working to collect the outstanding debts and sell the plant and machinery."
In accounts for the year to September 30 2024, the company’s fixed assets were valued at around £37,000 and current assets at approximately £980,000. Its net assets at the time totalled slightly over £255,000.
Ashville Aggregates and Concrete Limited – February 19
Ashville Aggregates and Concrete Limited, an aggregates supply and muck away firm based in West Drayton, fell into administration earlier this month. Dane O’Hara and Alex Cadwallader of Leonard Curtis appointed as joint administrators of the company, along with plant hire subsidiary Ashville Commercials Limited.
In accounts for the year to March 31 2024, Ashville Aggregates and Concrete’s fixed assets were valued at around £123,500 and current assets at £3.6 million, with net assets totalling approximately £60,000.
Blanchford & Co.Limited - February 19
Blanchford & Co.Limited, a building supplies firm based in Oxford, fell into administration last week, with Timothy Townley and Danny Dartnaill of BDO appointed as joint administrators.
In accounts for the year to December 31 2023, the company reported turnover of around £15.4 million, down slightly from £16.1 million a year earlier, while falling to a post-tax loss of around £538,000.
At the time, its fixed assets were valued at £1.2 million and current assets at around £3.7 million, with net assets standing at £2.5 million.
E.Cris UK Limited – February 21
E.Cris UK Limited, a fashion retailer trading as Pinko, fell into administration last week, with Andrew Watling and Simon Campbell of Quantuma Advisory appointed as joint administrators.
In accounts for the year to December 31 2023, the company fixed assets were valued at £1.4 million and current assets at £3.3 million. However, its net liabilities at the time exceeded £8.7 million.
Internet For Business Limited – February 21
Internet For Business Limited, an Aberdeen-based managed IT services provider, fell into administration last week, with Michael Reid of MHA appointed as administrator.
In accounts for the year to September 30 2022, the company’s fixed assets were valued at £1.9 million and current assets at £741,465. However, its net liabilities at the time totalled more than £1.4 million.
Tritium Technologies Limited – February 24
Tritium Technologies Limited, an electric vehicle technology firm, fell into administration earlier this month, with Richard Keley and Michael Solomons of Moorfields appointed as joint administrators.
During the year to June 30 2023, the company’s directors stated that it was unable to generate any revenue during the reporting period, resulting a post-tax loss of £3.2 million. At the time, the company’s total assets were valued at £669,600 and its total deficit at £3.4 million.
Eninco Trading Services Limited – February 24
Eninco Trading Services Limited, a petroleum wholesaler, fell into administration last week, with Carl Bowles and Robert Croxen of Alvarez & Marsal appointed as joint administrators.
In accounts for the year to December 31 2022, directors said the company had “faced significant challenges arising from the ongoing war in Ukraine”, including "fluctuations in the availability of crucial resources and the reliability of our supply chains.”
At the time, the company’s turnover stood at £340.5 million, down from around £377.7 a year earlier, while it fell from a post-tax profit of £939,235 to a loss of £2.1 million. Its total assets were valued at around £93 million, with net liabilities totalling approximately £855,000.
H.A.C. Pipeline Supplies Limited – February 25
H.A.C. Pipeline Supplies Limited, a plumbing and bathroom materials supply firm based in Leicestershire, fell into administration last week, with Christopher Lewis and Tyrone Courtman of RSM UK appointed as joint administrators.
In accounts for the year to November 30 2023, the company’s fixed assets were valued at slightly over £366,000 and current assets at approximately £7.8 million. Its net assets at the time stood at £292,140.
Acheson Construction Limited – February 25
Acheson Construction Limited, a Dorset-based construction firm, fell into administration last week, with Richard Lewis and Alistair Wardell of Grant Thornton appointed as joint administrators.
Richard Lewis commented: “The business has been impacted by increased costs on fixed priced contracts, delays in the commencement of new projects and a dispute over amounts due under a key contract.”
Despite considering alternative options, directors concluded that the company was no longer viable and it ceased trading upon the appointment of the joint administrators, with 40 staff made redundant immediately.
In accounts for the year to December 29 2023, the firm reported turnover of £53.6 million, up from £48.3 million a year earlier, and moved from a post-tax loss of around £344,000 to a profit of approximately £28,000.
At the time, its fixed assets were valued at £389,397 and current assets at £14.3 million, while net assets amounted to around £1.9 million.
Click here to download our free guide on finding and buying distressed businesses and assets
Seeking a buyer with interest in a long-established commercial vehicle maintenance provider based in the greater London area.
Seeking expressions of interest in the business and assets of long-established textile supplier including circa £2m of fabrics for ladies fashion garments.
Presently seeking parties interested in the business and assets of a company providing catering services to the film & TV industries.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.