Administration · 4 March 2021
Hackwood Homes
Housebuilder · Basingstoke · South East England
What happened
HACKWOOD HOMES LIMITED (company number 04572414), incorporated in 2002, entered administration on 4 March 2021. Its status at Companies House is now: administration.
Why it failed
Relations with its main customer, Pegasus, broke down and it stopped paying large sums owed; with no other work found, cash flow dried up and trading ceased.
- Main reason: Clients not paying or failing
- 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.
Previously known as: HACKWOOD ASSETS LIMITED, KENVILLE DEVELOPMENTS LIMITED.
Timeline
The last accounts and payment report before the failure, then what happened, with the time between each.
31 October 2019
Last accounts filed were made up to this date
17 months later
4 March 2021
Administration started
AccountsPayment reportInsolvency
Before it failed
Key figures
- Owed to suppliers and subcontractors (estimated), as at 4 March 2021
- £969k
- HMRC owed £238k. staff owed £273k. a further £2.0m owed to its lenders. Expected return to unsecured creditors: prescribed part only
- Administrators' proposals (trade creditors)
The last accounts filed were full accounts made up to 31 October 2019, 16 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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