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Administration · 12 August 2022

Harris CM

Developer · Pontefract · Yorkshire and the Humber

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What happened

HARRIS CM LIMITED (company number 06775621), incorporated in 2008, entered administration on 12 August 2022. Its status at Companies House is now: liquidation.

Why it failed

Several fixed-price contracts turned loss-making as material and labour costs rose, with about £3.5m of losses to date, leaving it unable to pay suppliers in August 2022.

  • Main reason: Losses on contracts
  • Cost inflation
  • 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: HCM PROJECTS LIMITED, CAMBERLEY SILVER GROUP LIMITED.

Timeline

The last accounts and payment report before the failure, then what happened, with the time between each.

  1. 31 October 2020

    Last accounts filed were made up to this date

    22 months later

  2. 12 August 2022

    Administration started

    9 months later

  3. 10 May 2023

    Administration ended

  4. 10 May 2023

    Creditors' voluntary liquidation started (shareholders resolved to wind up)

AccountsPayment reportInsolvency

Before it failed

Key figures

Staff, year to Oct 2020
25
Accounts at Companies House
Net assets, year to Oct 2020
£1.7m
Accounts at Companies House
Owed to unsecured creditors (estimated), as at 12 August 2022
£3.3m
of which trade creditors £3.0m. HMRC owed £687k. a further £383k owed to its lenders. Expected return to unsecured creditors: a payment expected, amount unclear
Administrators' proposals

The last accounts filed were full accounts made up to 31 October 2020, 21 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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In the news

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