Administration · 28 May 2024
Bowie Construction
Main contractor · Cambridge · East Anglia
What happened
BOWIE CONSTRUCTION LTD (company number 06206168), incorporated in 2007, entered administration on 28 May 2024. Its status at Companies House is now: administration.
Why it failed
Covid-era materials price rises under fixed-price contracts caused two years of losses; a 2023 recovery stalled when two main clients withheld payments, exhausting cash.
- Main reason: Clients not paying or failing
- Losses on contracts
- Cost inflation
- Covid-19
- Cash flow
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.
Timeline
The last accounts and payment report before the failure, then what happened, with the time between each.
30 December 2022
Last accounts filed were made up to this date
17 months later
28 May 2024
Administration started
AccountsPayment reportInsolvency
Before it failed
Key figures
- Owed to unsecured creditors (estimated), as at 5 August 2024
- £4.5m
- of which trade creditors £2.2m. HMRC owed £301k. Expected return to unsecured creditors: none expected
- Administrators' proposals (includes £1.3m owed to group companies)
The last accounts filed were full accounts made up to 30 December 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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