Wed, 03 Jul 2019 | ADMINISTRATION
A waste management, remediation and enabling works company providing services to the construction industry has collapsed into administration due to a series of trading difficulties.
PMC Soil Solutions Limited, trading from its base in Canning Town, London and its headquarters in Kings Cross, was forced to call in specialists from Leonard Curtis Business Rescue & Recovery to handle the administration process, with partners Andrew Duncan and Alex Cadwallader appointed as joint administrators.
The company was known to work with top specialist packaging contractors, major property development consultancies, private contractors and landowners on a range of construction initiatives.
In the year ending 30 November 2018, its Companies House accounts showed a turnover of £11.3 million and a pre-tax profit of £247,000.
Despite this, the administrators stated that they would follow through with an “orderly wind-down” of the business, after citing accounting irregularities, poor trading during the winter months, and declining margins in the marketplace as the reason for the company’s downfall.
The director of PMC Soil Solutions attempted to restructure the business by involving bankers and a number of professional advisers. In spite of this, it failed to secure sufficient amounts of work capital to continue its trading operations.
In a public statement, Duncan stated: “In spite of exhaustive actions by the company’s director, the business was unable to continue trading.
“We are now seeking interested parties to purchase the company’s assets and will focus on providing the affected employees with the appropriate support whilst seeking to maximise realisations for the benefit of the company’s creditors.”
Click here to view the PMC Soil Solutions Limited listing for full details.
For more news stories about administrations click here. For all our administrations listings, click here.
Good accreditations and member of quality schemes. Situated in the busy town of Rochdale with good road links. Long established and highly reputed business. Great reputation with regular and repeat trade. Offers invited.
FREEHOLD
We produce high quality landscape rock and products for large scale municipal projects. Encompassed with a successful commoditization of the rock product to the retail sector . Business includes well established wholesale and retail accounts
FREEHOLD
A specialist in floor and wall finishing capabilities, offering a range of services to its clients, including floor screeding, plastering,rendering and underfloor heating.Established for over 40 years and highly regarded within its community. Serves...
LEASEHOLD
|
22
|
|
Jan
|
Chelmsford warehouse management firm bought by software provider | BUSINESS SALE
Chelmsford-based warehouse management solutions provider Min...
|
21
|
|
Jan
|
MBO at Newcastle market research company | MBO/MBI
Newcastle-based market research company Explain Market Resea...
|
20
|
|
Jan
|
Target Healthcare embarks on acquisition spree | BUSINESS SALE
Target Healthcare has completed the acquisitions of a develo...
Sign up to receive our acquisition alert emails to get your FREE guide
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources