Thu, 25 Jul 2024 | ADMINISTRATION
A major fit-out firm based in Surrey has filed a notice of intention (NOI) to appoint administrators. Beck Interiors Limited, which is based in Chessington having first operated from Guildford, was founded in 1994 as a joinery firm.
The company specialises in high-end fit-out work, with notable jobs including the National Museum of Scotland, the Cadogan Hotel in Chelsea and the Hippodrome casino in the West End of London. In addition to its UK projects, the company has also worked overseas in Asia and the Middle East.
The firm has recently been working on the Whiteleys scheme in West London for developer Finchatton. The scheme involves fitting out the first Six Senses hotel in the UK, including more than 100 rooms, a spa, restaurant and bar.
In its most recent accounts, for the year to December 31 2022, the company reported a huge increase in turnover from £86.1 million in 2021 to £139.2 million, with pre-tax profits more than doubling from £3.3 million to £7.1 million. The firm also forecast that turnover would increase further to £150 million during 2023.
However, rumours that the company was on the brink of administration have been circling for several weeks, with reports indicating that multiple winding-up petitions have been issued against it.
In the company’s 2022 accounts, its fixed assets were valued at slightly over £1.4 million, with current assets at close to £92 million. Total equity at the time amounted to £25.2 million.
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