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Administration · 6 October 2021

NMCN Sustainable Solutions

Civil engineering · Sutton-in-Ashfield · East Midlands · Part of NMCN

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What happened

NMCN SUSTAINABLE SOLUTIONS LTD (company number 03575174), incorporated in 1998, entered administration on 6 October 2021. Its status at Companies House is now: liquidation.

Why it failed

A subsidiary of the NMCN group, it entered administration when group trading losses, Covid-19 cash flow strain and a failed refinancing left no funding to continue.

  • Main reason: Cash flow
  • Covid-19
  • Funding withdrawn
  • Sale or investment failed
  • Group company failed

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: NOMENCA LIMITED.

Timeline

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

  1. 31 December 2018

    Last accounts filed were made up to this date

    3 years later

  2. 6 October 2021

    Administration started

    3 years later

  3. 16 August 2024

    Winding-up petition presented

    1 month later

  4. 16 September 2024

    Administration ended

  5. 16 September 2024

    Winding-up order made by the court

AccountsPayment reportInsolvency

Before it failed

Key figures

Turnover in its last accounts, year to Dec 2018
£69.0m
Accounts at Companies House
Profit before tax, year to Dec 2018
£1.8m
Accounts at Companies House
Staff, year to Dec 2018
5
Accounts at Companies House
Net assets, year to Dec 2018
£6.4m
Accounts at Companies House

The last accounts filed were full accounts made up to 31 December 2018, 33 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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