Wed, 02 Aug 2023 | ADMINISTRATION
An electrical contracting firm based in Lincolnshire has fallen into administration after posting two separate notices of intention to appoint administrators (NOI) in July. Active Electrical Services (AES) is based in Stamford, Lincolnshire and employed an average of 11 staff last year, according to recent financial accounts.
The company appears to have been struggling for some time, having filed NOIs on July 3 and July 14, as it sought protection from its creditors. According to the company’s accounts for the year ending June 30 2022, it owed creditors close to £390,000 and had two outstanding charges against its from the Royal Bank of Scotland (RBS) and Aldermore Bank.
The firm, which was founded in 2014, has now moved to appoint joint administrators Charles Ranby-Gorwood and Arabella Ranby-Gorward of CRG Insolvency & Financial Recovery. The joint administrators will handle the day-to-day operation of the company.
The company carries out work on contracts for both domestic and commercial clients, as well as being an approved contractor used by landlords to carry out electrical safety checks and testing on their properties.
In AES’s accounts for the year to June 30 2022, its fixed assets were valued £7,575 and current assets at £359,427, down from over £0.5 million a year earlier. The company’s debts to its creditors, however, left it with net liabilities of close to £220,000 at the time of filing.
Read about rising UK insolvency figures.
A leading engineering firm focusing on electric power steering solutions and bespoke wiring harnesses serving various industries. It operates as two entities both reputable for maintaining high standards and offering bespoke solutions for clients. In...
Esteemed independent engineering consultancy, specialising in the safety, design and efficiency of pressure systems, through compliance, testing and inspection programs.
An established electrical engineering firm in the Midlands is now available, presenting a unique investment opportunity with a proven track record.
02
|
May
|
Scottish law firms WJM and Davidson Chalmers Stewart merge | MERGER
Scottish law firms Wright, Johnston & Mackenzie LLP (WJM) an...
01
|
May
|
Cybersecurity firm Brigantia bought by European peer | BUSINESS SALE
North Yorkshire cybersecurity distributor Brigantia Partners...
01
|
May
|
Historic pottery company Moorcroft goes out of business | ADMINISTRATION
The directors of 128-year-old Moorcroft Pottery have announc...
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
We can help you capitalise on insolvent businesses. We list UK businesses in administration, liquidation and with winding up petitions daily. Ensuring our members never miss out on an opportunity
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.