Lloyds British Testing Limited - in Liquidation (the "Company")
Nov 25, 2016
Michael Denny, David Baxendale and Matthew Hammond were appointed as Joint Administrators of the Company on 24 November 2016.
The Company is headquartered in Sutton Coldfield, West Midlands and operates 12 sites across the country, employing around 200 staff. The main trading activity is focused on the inspection, certification and repair of lifting equipment. There are also further trading divisions covering the manufacture of lifting equipment, provision of training services and sale of spare parts.
The Company has experienced falling revenues and cost pressures in the last financial year. This is attributable to both external factors such as the decline in overseas markets and oil and gas price volatility, and internal factors such as the cost of consolidating and restructuring UK operations. These factors combined created cash flow pressures which have led to the appointment of the Joint Liquidators.
Following our appointment we traded the business for approximately three and a half weeks, during which we simultaneously conducted a rapid and extensive search for a buyer of the business. On 16 December 2016 we sold the Company’s business and assets to Speedy Asset Services Limited.
The Company moved into creditors voluntary liquidation on 28 November 2017.
Michael Denny ceased to act as joint liquidator with effect from 4 January 2021.
Documents available to download:
Liquidation
Letter to Unsecured Creditors - 10 January 2023
Joint liquidators' sixth annual report for the period 28 November 2022 to 27 November 2023
Joint liquidators' fifth annual report for the period 28 November 2021 to 27 November 2022
Joint liquidators' fourth annual report for the period 28 November 2020 to 27 November 2021
Joint liquidators' third annual report for the period 28 November 2019 to 27 November 2020
Joint liquidators' second annual report for the period 28 November 2018 to 27 November 2019
Joint liquidators' first annual report for the period 28 November 2017 to 27 November 2018
Administration
Joint administrators' final progress report for the period 24 May 2017 to 12 November 2017
Joint administrators' progress report for the period 24 November 2016 to 23 May 2017
Joint administrators' proposals for achieving the purpose of the administration
David Baxendale and Matthew Hammond have been appointed as Joint Liquidators of Lloyds British Testing Limited to manage its affairs, business and property as agents and without personal liability. David Baxendale and Matthew Hammond are licensed in the United Kingdom to act as insolvency practitioners by the Institute of Chartered Accountants in England and Wales.
The Joint Liquidators are bound by the Insolvency Code of Ethics which can be found :https://www.gov.uk/government/publications/insolvency-practitioner-code-of-ethics.
The Joint Liquidators may act as Data Controllers of personal data as defined by UK data protection law depending upon the specific processing activities undertaken. PricewaterhouseCoopers LLP may act as a processor on the instructions of the Joint Liquidators. Personal data will be kept secure and processed only for matters relating to the Joint Liquidators’ appointment. Further details are available in the privacy statement on the PwC.co.uk website or by contacting the Joint Liquidators.
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