Tue, 02 Sep 2025 | ADMINISTRATION
Since our last update, the following businesses have been confirmed as having fallen into administration. All dates indicate when the administration was announced and not necessarily the dates on which administrators were appointed.
Ace Binding Company Limited - August 27
Ace Binding Company Limited, a Birmingham-based trade binding and print finishing company, fell into administration last month, with Conrad Beighton and Kirsty Swan of Leonard Curtis appointed as joint administrators.
The collapse of Ace Binding Company was attributed to external pressures, including increasing supplier costs, rising employer National Insurance contributions and the administration of customers. The company’s sister business, Ace Spiral Binder Limited, will remain operational, but at a reduced capacity.
In accounts for the year to March 30 2024, the company’s fixed assets were valued at around £625,000 and current assets at approximately £439,000, with net assets slightly exceeding £182,000.
Adventure Leisure Vehicles Limited - August 27
Adventure Leisure Vehicles Limited, a caravan and motorhome dealer based in Penrith, fell into administration in August, with Gareth Harris and Christopher Ratten of RSM UK Restructuring Advisory appointed as joint administrators.
In accounts for the year to December 31 2023, the company’s non-current assets were valued at around £200,000 and current assets at £4.1 million, with total equity amounting to around £652,000.
Kajaria-UKP Limited - August 27
Kajaria-UKP Limited, a retailer of tiles and the joint venture partner of Indian tile manufacturer Kajaria Ceramics Limited, fell into administration last month, with Andrew Andronikou and Michael Kiely of Quantuma Advisory appointed as joint administrators.
In accounts for the period from August 22 2023 to March 31 2024, the company reported a loss of close to £90,000. At the time, its fixed assets were valued at around £837,000 and current assets at approximately £784,000, while net assets amounted to slightly over £211,000.
Swan Print Limited - August 27
Swan Print Limited, a commercial printing company based in Bedford, fell into administration last month, with Gordon Thomson and Damian Webb of RSM Restructuring Advisory appointed as joint administrators.
In accounts for the year to October 31 2023, the company’s fixed assets were valued at slightly over £429,000 and current assets at close to £4 million, while net assets amounted to around £1.6 million.
Zest Food Service Limited - August 29
Zest Food Service Limited, a Derby-based fresh produce supplier, fell into administration last month, with Simon Gwinnutt of Cirrus Professional Services appointed as administrator. The company’s collapse was attributed to the impact of rising costs and mounting supply chain pressures.
In accounts for the year to December 31 2023, the company’s fixed assets were valued at close to £124,000 and current assets at around £767,000, with net assets amounting to slightly under £40,000.
Streetbees.com Limited - August 29
Streetbees.com Limited, trading as Streetbees, an AI-led market research firm, fell into administration last week, with Anthony Simmons and David Hudson of FRP Advisory appointed as joint administrators.
The company, which had worked with a high-profile list of clients, including Vodafone and Unilever, fell into administration after “exhaustive efforts” to secure investment failed, despite “strong interest from multiple parties”.
In accounts for the year to December 31 2023, the company’s turnover stood at £6.6 million, down from £9.3 million, while cutting its post-tax losses from £12.8 million to £5.4 million.
At the time, its fixed assets were valued at around £74,000 and current assets at £5.4 million, with total equity standing at approximately £682,000.
Orocco Limited - August 29
Orocco Limited, a commercial fit-out and renovation contractor based in Dalkeith, fell into administration last week, with James Stephen and Simon Girling of BDO appointed as joint administrators.
In accounts for the year to September 30 2024, the company’s fixed assets were valued at slightly over £911,000 and current assets at around £1.4 million. Net liabilities, however, stood at approximately £84,000.
Apex Traffic Management Limited - August 29
Apex Traffic Management Limited, a traffic management contractor based in South Lanarkshire, fell into administration last month, with Kevin Mapstone and Kenneth Craig of Begbies Traynor appointed as joint administrators.
The £9.7 million-turnover company fell into administration following a petition for liquidation by HMRC. According to administrators, the company’s cash flow had been affected by tightening margins, slower debt recovery and the increased cost of trading, resulting in it being unbale to meet its ongoing obligations.
The company has now ceased trading, with the joint administrators working alongside GMG Asset Valuation to maximise creditor returns from a sale of its assets.
In accounts for the year to March 31 2024, Apex Traffic Management’s fixed assets were valued at around £525,000 and current assets at £2.7 million, with net assets amounting to slightly over £753,000.
Read more about Apex Traffic Management’s collapse
M Squared Lasers Limited - August 29
M Squared Lasers Limited, a Glasgow-based photonics and quantum technology, fell into administration last week, with Geoffrey Jacobs and Alistair McAlinden of Interpath Advisory appointed as joint administrators.
The company’s collapse was attributed to headwinds including the aftermath of COVID-19, disruption to supply chains and component availability due to the war in Ukraine, a slowdown in orders from key customers and intensifying competition for skilled staff.
Following their appointment, the joint administrators are now seeking a buyer for the firm’s assets, including “highly specialised” intellectual property, customer relationships, work-in-progress and stock.
In the year to February 28 2023, the company reported turnover of £17.8 million, up slightly from £17.3 million a year earlier, but saw pre-tax profits fall from £2.5 million to around £1.8 million. In those accounts, fixed assets were valued at £11.3 million and current assets at £15.5 million, with net assets standing at £4.8 million.
Find out more about M Squared Lasers’ administration and the sale of its IP
Mantec Engineering Limited - September 1
Mantec Engineering Limited, a Manchester-based precision engineering company, fell into administration last month, with Marco Piacquadio and Alan Coleman of FTS Recovery appointed as joint administrators. Piacquadio and Coleman were also appointed as joint administrators to fellow Manchester-based engineering firm and Allied Global Engineering subsidiary EGL Vaughan Limited on the same day.
In accounts for the year to May 31 2024, Mantec Engineering’s fixed assets were valued at around £575,000 and current assets at £7 million, with net assets amounting to £6.4 million.
Ardmore Construction Limited - September 1
Ardmore Construction Limited, a Leigh-on-Sea based construction contractor, fell into administration last week, with Dominik Thiel-Czerwinke and Jamie Taylor of Begbies Traynor appointed as joint administrators.
The company, the former contracting arm of Ardmore group, has not undertaken any new jobs since 2021, but had continued to be impacted by litigation, after changes to regulations under the Building Safety Act led to a number of claims.
Construction giants including Taylor Wimpey, Bellway and Barratt are among those pursuing legal action against the company, seeking to recoup remediation costs, with Barratt alone claiming it is owed £85 million in damages from five developments.
In accounts for the year to September 30 2023, the company reported turnover of £313 million, down from £415.4 million a year earlier, while falling from a post-tax profit of around £2.3 million to a loss of more than £14 million. At the time, its assets were valued at around £196 million, with total equity of approximately £13 million.
Find out how regulatory changes are driving M&A in building products and services
Aluminium Castings Limited - September 2
Aluminium Castings Limited, an aluminium product company based in Callington, fell into administration last week, with David Kemp and Richard Hunt of Exigen Group appointed as joint administrators.
In accounts for the year to May 31 2024, the company’s fixed assets were valued at around £925,000 and current assets at slightly over £905,000, with net assets coming to approximately £390,000.
Click here to download our free guide on finding and buying distressed businesses and assets
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