Notice of Administration - GB Building Solutions Ltd
Atradius have issued the following advice for creditors. It has been confirmed that Anthony Nygate and Graham Newton of BDO LLP have been appointed as Administrators of GB Building Solutions Ltd and GB Group Holdings Ltd with effect from 09 March 2015.
Atradius understands that the appointments follow a brief period of consultation with BDO which ultimately resulted in the decision by directors of GB Solutions to place the company into Administration. It has been advised that during this time a number of creditors initiated steps to petition for the winding up of GB Building Solutions Ltd. but that the actions did not proceed because of the decision of the directors to appoint an Administrator.
BDO confirm that they do not intend to trade the company and as a consequence all sites have already been closed and secured.
Because of the nature of the business our initial understanding is that there will be very little stock remaining. However, we would ask that any suppliers check with BDO to confirm whether any of their stock remains unused.
At this early point in time we anticipate that BDO will be investigating the potential for novation of contracts, and focusing on the collection of sums due to the company.
Any CMR policyholders with outstanding invoices on this debtor should contact us ASAP for further advice.