What happened
S&T(UK) LIMITED (company number 07863258), incorporated in 2011, entered administration on 17 February 2020. Its status at Companies House is now: liquidation.
Why it failed
Cost overruns on a £30m Heathrow hotel fit-out left about £17m unbilled, with only £1.25m recovered after adjudications and litigation; cash strain led to repeated creditor winding-up petitions.
- Main reason: Losses on contracts
- Delays
- Clients not paying or failing
- Legal claims
- 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: S&T INTERIORS (UK) LTD.
Timeline
The last accounts and payment report before the failure, then what happened, with the time between each.
31 December 2017
Last accounts filed were made up to this date
2 years later
17 February 2020
Administration started
12 months later
16 February 2021
Administration ended
16 February 2021
Creditors' voluntary liquidation started (shareholders resolved to wind up)
AccountsPayment reportInsolvency
Before it failed
Key figures
- Owed to unsecured creditors (estimated), as at 17 February 2020
- £59.9m
- HMRC owed £5.1m. Expected return to unsecured creditors: about 29p in the pound
- Administrators' proposals (includes £27.9m owed to its parent)
The last accounts filed were group accounts made up to 31 December 2017, 26 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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