Administration · 18 August 2023
A C
Main contractor · Marston Moretaine · East Anglia
What happened
A C PLC (company number 06526121), incorporated in 2008, entered administration on 18 August 2023. Its status at Companies House is now: administration.
Why it failed
Principal contractors withheld over 3m euro of payments amid client disputes and other work was delayed; suppliers then withdrew 6.7m euro of credit limits after missed payments.
- Main reason: Clients not paying or failing
- Cash flow
- Delays
Our summary of the reasons given in the administrators' proposals. These record the administrators' and directors' account of what happened.
An administrator, a licensed insolvency practitioner, takes control of the company to try to rescue it, sell the business or get a better result for creditors than a liquidation.
Previously known as: A C LIMITED, A. C. FLOORING (MARSTON MORETAINE) LIMITED.
Timeline
The last accounts and payment report before the failure, then what happened, with the time between each.
31 March 2022
Last accounts filed were made up to this date
17 months later
18 August 2023
Administration started
AccountsPayment reportInsolvency
Before it failed
Key figures
- Owed to suppliers and subcontractors (estimated), as at 18 August 2023
- £411k
- HMRC owed £44k. a further £8.8m owed to its lenders. Expected return to unsecured creditors: prescribed part only
- Administrators' proposals (trade creditors)
The last accounts filed were group accounts made up to 31 March 2022, 17 months before it went into administration.
The full filing history, including any late filings, charges and director changes, is on Companies House.
Lessons learned report
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