UK administrations update: December 2 - 8

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.

SDM Fabrication Limited - December 2
SDM Fabrication Limited, a structural steel firm based in Wisbech, fell into administration in late November, with Hayley Watson, Christopher McKay and Richard Bloomfield of FRP Advisory appointed as joint administrators.

In accounts for the year to August 31 2023, the company reported turnover of £20.9 million, up from £18.2 million a year earlier, while operating profits increased from around £1 million to approximately £2 million. At the time, its fixed assets were valued at around £2.9 million and current assets at £6.3 million, with net assets totalling £1.9 million.

Silven Recruitment Limited - December 2
Silven Recruitment Limited, a Manchester-based recruitment agency, fell into administration last month, with Alan Coleman and Marco Piacquadio of FTS Recovery appointed as joint administrators.

In accounts for the year to December 31 2024, the company’s assets were valued at £4.2 million, with total equity coming to £2.1 million.

National Timber Group - December 2
Five entities comprising timber distribution and processing group National Timber Group fell into administration in late November. Michael Magnay, Gemma Quinn and Jonathan Marston of Alvarez & Marsal were appointed as joint administrators of National Timber Group Scotland Limited, Glow Insulation & Site Supplies Limited, Scotia Roofing & Building Supplies Limited, National Timber Group England Limited and National Timber Group Midco Limited.

Upon the appointment of the joint administrators, 13 of the group’s 47 locations were closed with immediate effect, while there were 561 redundancies and some of the group’s production facilities were mothballed. The joint administrators have launched an accelerated sale process, with Michael Magnay saying they were “encouraged by the level of interest so far and we are hopeful of finding a buyer for all or parts of the group.”

In its 2023 accounts, National Timber Group England Ltd reported turnover of £196.5 million, up from £189.3 million in 2022, but fell from an operating profit of £7.3 million in 2022 to a loss of £27.1 million. At the time, its fixed assets were valued at £21.6 million and current assets at £70.3 million, while total equity stood at approximately £26.4 million.

Find out more about the collapse of National Timber Group

Virocell Biologics Limited - December 3
Virocell Biologics Limited, a biotechnology company based in London, fell into administration in late November, with Chad Griffin and Simon Baggs of FRP Advisory appointed as joint administrators.

In accounts for the year to December 31 2023, the company’s fixed assets were valued at £1.2 million and current assets at £6.5 million, with total equity amounting to £3.4 million.

Stonegate Homes (Hove) Limited - December 3
Stonegate Homes (Hove) Limited, a construction developer based in Guildford, fell into administration in late November, with Arron Kendall and Andrew Pear of Moorfields appointed as joint administrators. Kendall and Pear were also appointed as joint administrators of Stonegate Homes (Hove 2) Limited.

In accounts for the year to May 31 2024, the company’s current assets were valued at around £32.7 million. However, net liabilities exceeded £107,000.

Vitrifi Limited - December 4
Vitrifi Limited, a London-based SaaS autonomic networking company, fell into administration last week, with Geoffrey Rowley and Philip Armstrong of FRP Advisory appointed as joint administrators.

In the year to June 30 2024, the company reported turnover of around £156,000 and fell to an operating loss of approximately £14.5 million, compared to an £8.8 million loss a year earlier. Its fixed assets were valued at £2.9 million at the time, and current assets at £12.1 million, but net liabilities exceeded £16.7 million.

CPR Electrical Contracting Limited - December 4
CPR Electrical Contracting Limited, a Wrexham-based electrical contracting firm, fell into administration last week, with Paul Williams and Stephen Goderski of PKF Littlejohn appointed as joint administrators.

In accounts for the year to October 31 2024, the company’s fixed assets were valued at around £276,000 and current assets at £1.4 million, while net assets amounted to slightly over £527,000.

Aeropair Limited - December 5
Aeropair Limited, a Glasgow-based company that manufactures and repairs aircraft interior components, fell into administration last month, with Paul Dounis and Mark Harper of Opus Restructuring appointed as joint administrators.

In accounts for the year to March 31 2024, the company’s fixed assets were valued at around £404,000 and current assets at approximately £4.1 million. Net liabilities, however, totalled nearly £96,000.

Warwick Ward (Machinery) Limited - December 5
Warwick Ward (Machinery) Limited, an earthmoving and waste recycling equipment supplier headquartered in Barnsley, fell into administration last week, with James Lumb and James Clark of Interpath Advisory appointed as joint administrators.

The company, which has been trading since 1970 and underwent a transition to employee ownership in 2023, had experienced significant financial difficulties, exacerbated by weak spending in the construction and waste recycling sectors. Efforts to explore a sale, refinancing or investment did not return a solvent solution, leading to the appointment of administrators.

The majority of the company’s 89 staff were made redundant upon the appointment of the joint administrators, who will now explore options for the company’s assets. In accounts for the year to September 30 2024, the company reported turnover of £45.3 million, down from £51.2 million, while operating profits fell from around £2.1 million to approximately £466,000.

At the time, its fixed assets were valued at around £8.6 million and current assets at £27.2 million, while net assets amounted to £6.4 million.

Find out more about the collapse of Warwick Ward

Trans-Continental Group Limited - December 8
Trans-Continental Group Limited, a Blackpool-based wholesaler specialising in garden furniture and accessories, fell into administration last month, with Christopher Ratten and Gareth Harris of RSM UK Restructuring appointed as joint administrators.

In accounts for the year to December 31 2023, the company’s non-current assets were valued at £2.7 million and current assets at approximately £3 million, while total equity amounted to £517,000.

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