BusinessBusiness RecoverySFP administrator brothers called to Active Technologies

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.”

Related Articles

Using insolvency as a debt recovery tool

Business Recovery Using insolvency as a debt recovery tool

4m Emma Smith, Managing Editor
Kingston Smith liquidators to distribute millions to Bond International Software PLC members

Accounting Firms Kingston Smith liquidators to distribute millions to Bond International Software PLC members

10m Stephanie Wix, Writer
SFP sells off Pixel Projects and saves all staff

Business Recovery SFP sells off Pixel Projects and saves all staff

11m Stephanie Wix, Writer
Smith & Williamson appointed administrators of 4Children

Accounting Firms Smith & Williamson appointed administrators of 4Children

1y Richard Crump, Writer
Big Four insolvency specialist joins Gibson Hewitt

Business Recovery Big Four insolvency specialist joins Gibson Hewitt

1y Richard Crump, Writer
Administrators from KPMG appointed to City Motor Holdings

Business Recovery Administrators from KPMG appointed to City Motor Holdings

1y Richard Crump, Writer
Johnston Carmichael appointed as joint administrators for Axon Well

Accounting Firms Johnston Carmichael appointed as joint administrators for Axon Well

1y Stephanie Wix, Writer
Begbies Traynor appointed administrators of William Anelay

Accounting Firms Begbies Traynor appointed administrators of William Anelay

1y Richard Crump, Writer