HatterScaff
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Feck me these where a big firm, wtf is going on :sad:
Dixon Scaffolding
- Thread starter HatterScaff
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Dass
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What's happened ?
HatterScaff
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Havespannerwilltravel
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Sad. I seem to remember them doing some work in Berlin Germany back in the 90s.
Mike - RHL
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they still have two other active companies in the group so they are still about.
Dixon Scaffolding group and DIXON PENTLAND SCAFFOLDING COMPANY LIMITED both look fairly healthy.
Dixon Scaffolding group and DIXON PENTLAND SCAFFOLDING COMPANY LIMITED both look fairly healthy.
From the 'London Gazette' item I noticed the administrators are a Birmingham based company called Begbies Traynor. Their name keeps appearing connected with scaffolding administrations including Faber and recently Fieldcrown amongst others. We should make them honorary members of this forum as it seems many more of us could be destined to meet them!!!
Tufcoat Will
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Shame... Lee seems a nice guy - hope they keep trading one way or another.
HatterScaff
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Insider News South West
A Poole-based scaffolding company entered administration after missing a 'Time to Pay' agreement with HM Revenue & Customs (HMRC), it has emerged.
Administrators were appointed to Dixon Scaffolding (Transmission) Ltd in early July, but managed to secure a pre-pack sale of the business and assets.
David Hill, Peter Richard Dewey and Julie Anne Palmer of Begbies Traynor were called in on 6 July 2012.
On the same day, the business and assets were sold to two related companies – Dixon Pentland Scaffolding Ltd and MTL Scaffolding Ltd – for £390,000.
Dixon Scaffolding (Transmission) was founded more than 40 years ago and provided scaffolding to the energy and heavy industrial sectors. The business employed more than 100 staff.
At the end of the 2009 financial year, the company's founder Mike Dixon took semi-retirement and handed over the business to a newly appointed managing director and management team.
The administrators said this coincided with a temporary reduction in work from National Grid, the company's major customer. The new management team also entered into long-term contracts at "uncompetitive prices" which led to a loss of £633,000 for the year to 31 December 2010.
In May 2011 the new management team left the business and Dixon returned to the role of managing director. He took steps to rectify the company's position the administrators said, although it made a loss of £293,000 for the year to 31 December 2011.
The administrators said the business had "turned the corner" in March 2012 after securing £9m of profitable work for 2012 with the National Grid and management accounts reported a profit of £64,000 for the period to 31 March 2012.
But the company had fallen into arrears with HMRC. The administrators said two 'Time to Pay' agreements had been entered into, but the company missed a payment of £10,000. This led to the agreements being cancelled.
HMRC then indicated a winding up petition would be issued if payment was not made and Begbies Traynor was contacted by the company to negotiate to avoid the action.
Concerns from the company's bank, Royal Bank of Scotland, led to delays in appointing an administrator and as the bank had decided not to consent to the appointment, a going concern sale was prevented.
A debenture was created in favour of directors Mike Dixon, Kathleen Dixon and Tracey Dixon to create a fixed and floating charge over the company's assets. On 6 July 2012, administrators from Begbies Traynor were appointed and the business was sold.
The administrators said the secured creditors, who are the directors, are likely to be repaid in full. They are owed £747,000 from the repayment of the bank's overdraft facility.
Preferential creditors are owed £63,503 and the administrators said since their appointment, the employees' claims have been paid in full by associated company Dixon Pentland Scaffolding Company.
It is estimated that £3.3m is owed to unsecured creditors. This includes £1.8m to HMRC, £464,542 to trade creditors, £201,161 to connected companies and £11,801 to employees.
The administrators said there "may be sufficient funds to enable a divided to be paid to the unsecured creditors".
A Poole-based scaffolding company entered administration after missing a 'Time to Pay' agreement with HM Revenue & Customs (HMRC), it has emerged.
Administrators were appointed to Dixon Scaffolding (Transmission) Ltd in early July, but managed to secure a pre-pack sale of the business and assets.
David Hill, Peter Richard Dewey and Julie Anne Palmer of Begbies Traynor were called in on 6 July 2012.
On the same day, the business and assets were sold to two related companies – Dixon Pentland Scaffolding Ltd and MTL Scaffolding Ltd – for £390,000.
Dixon Scaffolding (Transmission) was founded more than 40 years ago and provided scaffolding to the energy and heavy industrial sectors. The business employed more than 100 staff.
At the end of the 2009 financial year, the company's founder Mike Dixon took semi-retirement and handed over the business to a newly appointed managing director and management team.
The administrators said this coincided with a temporary reduction in work from National Grid, the company's major customer. The new management team also entered into long-term contracts at "uncompetitive prices" which led to a loss of £633,000 for the year to 31 December 2010.
In May 2011 the new management team left the business and Dixon returned to the role of managing director. He took steps to rectify the company's position the administrators said, although it made a loss of £293,000 for the year to 31 December 2011.
The administrators said the business had "turned the corner" in March 2012 after securing £9m of profitable work for 2012 with the National Grid and management accounts reported a profit of £64,000 for the period to 31 March 2012.
But the company had fallen into arrears with HMRC. The administrators said two 'Time to Pay' agreements had been entered into, but the company missed a payment of £10,000. This led to the agreements being cancelled.
HMRC then indicated a winding up petition would be issued if payment was not made and Begbies Traynor was contacted by the company to negotiate to avoid the action.
Concerns from the company's bank, Royal Bank of Scotland, led to delays in appointing an administrator and as the bank had decided not to consent to the appointment, a going concern sale was prevented.
A debenture was created in favour of directors Mike Dixon, Kathleen Dixon and Tracey Dixon to create a fixed and floating charge over the company's assets. On 6 July 2012, administrators from Begbies Traynor were appointed and the business was sold.
The administrators said the secured creditors, who are the directors, are likely to be repaid in full. They are owed £747,000 from the repayment of the bank's overdraft facility.
Preferential creditors are owed £63,503 and the administrators said since their appointment, the employees' claims have been paid in full by associated company Dixon Pentland Scaffolding Company.
It is estimated that £3.3m is owed to unsecured creditors. This includes £1.8m to HMRC, £464,542 to trade creditors, £201,161 to connected companies and £11,801 to employees.
The administrators said there "may be sufficient funds to enable a divided to be paid to the unsecured creditors".
By the numbers coming out from Hatterscaff's post these were not a small outfit. Seems to me they have become another victim of this continuing recession. I do hope the owners are not too disheartened and will start again as all the comments on here are complimentary to them.
