Creditors' voluntary liquidation · 5 October 2015
Direct Build Services
Housebuilder · Sevenoaks · South East England
What happened
DIRECT BUILD SERVICES LIMITED (company number 02564054), incorporated in 1990, entered creditors' voluntary liquidation on 5 October 2015. Its status at Companies House is now: liquidation.
Why it failed
The directors blamed cash flow difficulties at group and associated companies, together with a lack of working capital and increased overheads.
- Main reason: Group company failed
- Cash flow
Our summary of the reasons given in the liquidators' progress report. This records the liquidators' account of what happened.
The directors and shareholders decide to close an insolvent company. A liquidator sells its assets and shares the proceeds among creditors.
Previously known as: DIREKT BUILD SERVICES LIMITED, WIRESET LIMITED.
Timeline
The last accounts and payment report before the failure, then what happened, with the time between each.
31 March 2014
Last accounts filed were made up to this date
19 months later
5 October 2015
Creditors' voluntary liquidation started (shareholders resolved to wind up)
AccountsPayment reportInsolvency
Before it failed
Key figures
- Owed to suppliers and subcontractors (estimated), as at 5 October 2015
- £462k
- a further £3k owed to its lenders
- Statement of affairs (liquidation) (trade creditors)
The last accounts filed were full accounts made up to 31 March 2014, 18 months before it failed.
The full filing history, including any late filings, charges and director changes, is on Companies House.
Lessons learned report
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