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Administration · 30 January 2023

Outco Surfacing

Civil engineering · Doncaster · Yorkshire and the Humber

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What happened

OUTCO SURFACING LIMITED (company number 06622280), incorporated in 2008, entered administration on 30 January 2023. Its status at Companies House is now: administration.

Why it failed

Turnover, margins and cash flow weakened, additional funding could not be found, and after a winding-up petition in January 2023 the directors stopped trading and invited administrators in.

  • Main reason: Cash flow
  • Funding withdrawn

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: NMC SURFACING LIMITED, NMC SURFACING (SOUTHERN) LIMITED, N M C PLANT HIRE LIMITED.

Timeline

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

  1. 30 September 2021

    Last accounts filed were made up to this date

    16 months later

  2. 30 January 2023

    Administration started

AccountsPayment reportInsolvency

Before it failed

Key figures

Staff, year to Sept 2021
71
Accounts at Companies House
Net assets, year to Sept 2021
£4.5m
Accounts at Companies House
Owed to unsecured creditors (estimated), as at 30 January 2023
£6.9m
of which trade creditors £4.5m. HMRC owed £819k. a further £32.4m owed to its lenders. Expected return to unsecured creditors: highly unlikely
Administrators' proposals

The last accounts filed were full accounts made up to 30 September 2021, 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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In the news

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