Administration · 28 October 2022
Jehu Project Services
Developer · Bridgend · South Wales
What happened
JEHU PROJECT SERVICES LIMITED (company number 03032954), incorporated in 1995, entered administration on 28 October 2022. Its status at Companies House is now: administration.
Why it failed
Pandemic delays and 25%-plus cost rises on fixed-price, low-margin contracts drained cash; the bank sought to cut its overdraft, a sale or investment process failed and support payments were uncertain.
- Main reason: Cost inflation
- Covid-19
- Losses on contracts
- Delays
- Cash flow
- Funding withdrawn
- Sale or investment failed
- HMRC debts
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 September 2020
Last accounts filed were made up to this date
2 years later
28 October 2022
Administration started
AccountsPayment reportInsolvency
Before it failed
Key figures
- Owed to unsecured creditors (estimated), as at 28 October 2022
- £9.0m
- of which trade creditors £2.3m. HMRC owed £1.4m. staff owed £932k. Expected return to unsecured creditors: none expected
- Administrators' proposals (includes £5.1m owed to subcontractors)
The last accounts filed were full accounts made up to 30 September 2020, 25 months before it went into administration. Private companies have nine months after their year end to file, so a gap of more than 21 months usually means the next accounts were overdue, one of the warning signs worth checking for.
The full filing history, including any late filings, charges and director changes, is on Companies House.
Lessons learned report
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