UK plumbing company United Drains enters administration
Summarised from 2 outlets · Updated 22 Oct, 12:33 · Archive
United Drains Ltd, which provided 24/7 plumbing and drainage services across the UK, has entered administration after nine years in business.
United Drains Ltd, a plumbing and drainage company that has operated across the UK since 2017, has entered administration after nine years in business. The company provided 24-hour services including emergency plumbing, drain unblocking, CCTV surveys and pumping station maintenance.
Joint administrators Constantinos Pedhiou and Yiannis Koumettou of BTG Begbies Traynor were appointed on 16 October. Administration is a legal process under the Insolvency Act 1986 that applies when a company cannot pay its expenses, debts or other liabilities.
When a company enters administration, a statutory moratorium is put in place, giving it 'breathing space' to allow financial restructuring plans to be drawn up free from creditor enforcement actions. The process aims to rescue viable businesses that are insolvent due to cashflow problems, with a licensed insolvency practitioner appointed by directors, a creditor or the court to manage it.
How it is being reported
- UK plumbing company offering 24/7 service collapses into administration after 9 yearsPlumbing and drainage company United Drains Ltd has collapsed into administration after nine years in business.Oxford Mail · 22 Oct, 11:59
- UK plumbing company offering 24/7 service collapses into administration after 9 yearsPlumbing and drainage company United Drains Ltd has collapsed into administration after nine years in business.Oxfordshire Guardian · 22 Oct, 11:59
In this story: United Drains Ltd · BTG Begbies Traynor · Constantinos Pedhiou · Yiannis Koumettou · UK
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