SFP administrator brothers called to Active Technologies
SFP insolvency brothers continue to trade manufacturer, which entered administration following £400,000 of debts it was unable to service
SFP ADMINISTRATORS have been called to manufacturer Active Technologies after the company ran up debts it was unable to repay.
Brothers Simon and Daniel Plant were appointed joint administrators after the Northfolk-based company ran into cashflow problems after it accrued debts of about £400,000.
Active Technologies manufacturers engineering parts for the aerospace, automotive, renewables, oil and gas industries, and had an annual turnover of about £2.5m and employs 30 people.
Simon Plant, partner at SFP, cited cashflow problems as the main reason for its failure: “To survive the current downturn in the economy, it is imperative to keep an eye on finances and ensure that cash is available to keep the company afloat.
“In this case, the company is continuing to trade to maintain goodwill, and we are in discussions with a potential buyer to facilitate the sale of Active Technologies as a trading business and all of its assets.”