UK administrations update: October 15 – 22

Since our last update, the following businesses have been confirmed as having fallen into administration. All dates indicate when the administration was posted by the Gazette and not necessarily the dates on which administrators were appointed.

10463817 Limited – October 15
10463817 Limited, trading as London Medical Laboratory, is a state-of-the-art laboratory in London offering pathology testing solutions across disciplines including biochemistry, immunology, haematology, sexual health screening and molecular biology. The business fell into administration earlier this month, with James Hawksworth and Gareth Harris of RSM UK Restructuring Advisory appointed as joint administrators.

In accounts for the year to December 31 2022, the company reported turnover of around £15.9 million, down from more than £33 million a year earlier, while falling from an operating profit of £7.6 million to a £3.3 million operating loss.

At the time, its fixed assets were valued at around £1.3 million and current assets at £6.6 million, while net assets amounted to £5.8 million, down from approximately £8.6 million a year earlier.

Builders Merchant Company Limited – October 16
Builders Merchant Company Limited, a Lincolnshire-based independent timber and building materials supplier, fell into administration earlier this month, appointing Laura Baxter and Andrew Mackenzie of Begbies Traynor as joint administrators.

The company fell into administration after facing a winding-up petition and after efforts to sell the business through an accelerated M&A process failed. Following the appointment of the joint administrators, the company’s 26 staff have been made redundant, with the joint administrators now seeking to sell the business’ freehold property and assets.

In accounts for the year to December 31 2022, the company’s fixed assets were valued at around £575,000 and current assets at approximately £3.6 million, while total equity stood at around £933,000.

G S UK Limited – October 16
G S UK Limited, a Nottingham-based embroidery supplier, fell into administration in September, with Richard Easterby and Michael Kiely of Quantuma Advisory appointed as joint administrators.

In accounts for the year to December 31 2022, the company’s fixed assets were valued at around £142,000 and current assets at £740,556, with net assets amounting to just under £340,000.

Simply Better Solutions Limited – October 16
Simply Better Solutions Limited, trading as Simplybetter, a creative events agency based in Leeds, fell into administration earlier this month, with Kelly Burton and Emma Dowd of Wilson Field appointed as joint administrators.

In accounts for the year to February 28 2024, the company’s assets were valued at around £1.26 million, but debts meant that its total liabilities amounted to nearly £435,000.

Completely Motoring Limited – October 17
Completely Motoring Limited, a retailer of used and new cars, with 14 showrooms across Wales and the South West of England, fell into administration earlier in October, with Jonathan Amor and Matthew Richards of Azets and Alessandro Sidoli of Xeinadin Corporate Recovery appointed as joint administrators.

Amor, Richards and Sidoli were also appointed as joint administrators of fellow CM group companies John Wilkins (Motor Engineers) Ltd, and Thunder Road Motorcycles Ltd.

Despite reporting turnover of £78.4 million in year to March 31 2023, up from £50.3 million a year earlier, the group reportedly suffered from a summer of poor trading, which led to significant financial difficulties. The joint administrators are now seeking a buyer for the group and say they have received several expressions of interest.

In the group’s 2023 accounts, its fixed assets were valued at £4.37 million and current assets at approximately £23.8 million, with net assets standing at around £2 million.

Find out more about Completely Motoring’s collapse

CB Printforce UK Limited – October 17
CB Printforce UK Limited, trading as Printforce, a Biggleswade-based on-demand book and journal printer, fell into administration earlier this month, with Sarah Cook and Andy John of FRP Advisory appointed as joint administrators.

The company, which has reportedly now ceased trading, was established five years ago as the UK operation of the Netherlands-headquartered Printforce group of companies.

In accounts for the year to December 31 2022, the company’s fixed assets were valued at £610,541 and current assets at approximately £2.1 million. However, its net liabilities amounted to £1.67 million, more than double their 2021 levels.

SeventyNine Lighting Limited – October 17
SeventyNine Lighting Limited, a Cheltenham-based lighting specialist operating as 79Group, fell into administration last week, with Mark Boughey and Rebecca Dacre of Forvis Mazars appointed as joint administrators.

In accounts for the year to May 31 2023, the company’s fixed assets were valued at around £253,000 and current assets at approximately £3 million, with net assets amounting to £551,434.

Prism Electronics Limited – October 18
Prism Electronics Limited, a St Ives-based electronics manufacturer, fell into administration last week, with Tom Bowes and Richard Goodall of FRP Advisory appointed as joint administrators.

In accounts for the year to September 30 2023, the company’s fixed assets were valued at around £202,000 and current assets at £3.4 million, with net assets amounting to approximately £1.76 million.

Prevayl Limited – October 18
Prevayl Limited, a wearable tech company based in Wilmslow, fell into administration earlier this month, with Michael Solomons and Andrew Pear of Moorfields appointed as joint administrators.

In accounts for the year ending December 31 2023, the company’s fixed assets were valued at around £741,000 and current assets at approximately £2.4 million. However, its net liabilities at the time amounted to nearly £3 million.

A. M. C. (U.K.) Fasteners Limited – October 18
A. M. C. (U.K.) Fasteners Limited, a manufacturer of steel nuts and fasteners, fell into administration last week, with Nimesh Patel and Haslib Howlader of Hudson Weir appointed as joint administrators.

The company is a subsidiary of architectural steelwork group MFG Holdings and its administration comes after Patel and Howlader were also appointed as joint administrators to three other MFG subsidiaries – Hi-Tec Welding & Fabrication Services Ltd, Tony Perry Ltd, and Concept Balustrades Ltd – earlier this month.

In accounts for the year to December 31 2022, the company’s fixed assets were valued at around £355,000 and current assets at slightly over £433,000, with total equity amounting to £541,379 at the time.

John Florence Limited – October 21
John Florence Limited, a specialist paediatric orthotics clinical service provider, fell into administration last week, with Grace Jones and David Perkins of Parker Andrews appointed as joint administrators.

In accounts for the year to August 31 2023, the company’s fixed assets were valued at around £521,000 and current assets at £3.2 million, with net assets amounting to slightly over £1 million.

HBS Group Southern Limited – October 22
HBS Group Southern Limited, a Hampshire-based mechanical and electrical (M&E) specialist, fell into administration earlier this month, with Glen Carter and Damian Webb of RSM UK Restructuring Advisory appointed as joint administrators.

The company had traded successfully across the south of England for more than 70 years, but was hit by headwinds affecting the wider construction industry over recent years, especially increasing materials and labour costs.

In the year to March 31 2023, it reported turnover of £15.5 million, down from £16.4 million in 2022, while pre-tax losses hit £1.1 million. The company’s gross profit margin also decreased from 14 per cent to 11 per cent.
At the time, its fixed assets were valued at £1.17 million and current assets at approximately £7.6 million, with net assets amounting to £4.1 million.

Find out more about HBS Group Southern’s collapse


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