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Bowers Projects Limited to enter liquidation

 

Posted on 20 July 2017

Bowers Projects Limited, a high voltage solutions specialist, offering competitive turnkey solutions, based in Luton with operations across the South of England, has ceased trading with the Company due to enter liquidation shortly.

The Company had recently become embroiled in an adjudication process with an NHS Trust, and after becoming ultimately unsuccessful in those proceedings, the directors have had no alternative but to take the decision to cease to trade, due to the impact of the adjudication outcome on the businesses cash flow, resulting in the immediate loss of 10 jobs.

Managing Director of Bowers Projects Limited, Michael Bowers, commented: “Despite working tirelessly to resolve the issues arising with the NHS Trust in relation to a seven figure sum that we believe is due to the Company, such actions have ultimately proved futile. We have also taken advice with a view to restructuring the business, however it is with a very heavy heart that we must take the now unavoidable decision to cease trading.”

“Bowers Projects has built an enviable reputation for excellent customer service and quality within the industry, which is due to our fantastic employees. As we proceed through this difficult period, we prioritise our employees and stakeholders, to ensure they are supported as much as possible.”

“I must add that the failure of Bowers Projects Limited will have no impact on any other entities under the Bowers Group of Companies, which continue to go from strength to strength, having recently been recognised as winners of both the Derby Small Business of the Year and the Excellence in Manufacturing Award, at the Derbyshire Telegraph Business Awards last month.”

Smith Cooper’s Director of Business Recovery and Insolvency, Michael Roome added “We had planned for an agreement to be reached with the Company’s creditors in the event that the adjudication had been successful. Whilst planning for a potential Company Voluntary Arrangement was being undertaken we concurrently ran a process of marketing the business and its assets for sale, but with no offers forthcoming, and the unfortunate outcome at adjudication, the Board of Directors have been left with no alternative but to cease trading and commence the process of placing the company into Liquidation.”

All queries regarding Bowers Projects Limited should be directed to Sam Thompson or Kimberley Wapplington at Smith Cooper Nottingham on 0115 945 4300 or kimberley.wapplington@smithcooper.co.uk

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