What happened
AC DATA LIMITED (company number 08606643), incorporated in 2013, entered administration on 18 August 2023. Its status at Companies House is now: administration.
Why it failed
Principal contractors withheld over 3m euro amid client disputes and other work was delayed; suppliers then withdrew 6.7m euro of credit, leaving an 8m to 9m euro working capital shortfall.
- 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: AC RESOURCES LIMITED T/A AC DATA LTD, AC RESOURCES 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
- £2.1m
- Expected return to unsecured creditors: prescribed part only
- Administrators' proposals (trade creditors)
The last accounts filed were full 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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