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.
This is a rare opportunity to acquire a well-established civil and structural engineering business on the Wirral, known for its expertise in building design and advanced use of BIM software.
An opportunity to acquire a leading provider of automated industrial sealing solutions, strategically located in the East and West Midlands.
Opportunity to acquire an established industrial coatings contractor specialising in the oil & gas industry, offering comprehensive services.
30
|
Jun
|
Specialist electronics manufacturer to be acquired in £20m deal | BUSINESS SALE
Landguard Nexus Limited, a specialist electrical and electro...
30
|
Jun
|
Modella successfully price-chips WH Smith deal by at least 23 per cent | BUSINESS SALE
Back in March 2025, private investment form Modella Capital ...
30
|
Jun
|
IFA consolidator secures £14.5m facility for buy-and-build strategy | BUSINESS NEWS
Futura Financial Services Group, a consolidator of UK indepe...
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.