Winding Up Petition: UPVC Manufacturer Liquidated
October 15 2015
Liquidator Carter Backer Winter has been appointed to Hampshire-based UPVC windows manufacturer Dorwin Limited. After being issued with a winding up petition the company found it impossible to gain the backing of it’s primary customer base for a CVA process which could have safeguarded it’s survival.
Dorwin Ltd Wound Up by Companies Court
The company which has a multi-million pound annual turnover shut it’s doors with the reported loss of 73 jobs. £1.8m worth of orders and predicted sales, which had been included in the CVA cash flow forecast, have been lost after the winding up petition was issued. Dorwin’s tender receipts totalled £2.8m before the CVA approval. These receipts totalled £96,000 since the CVA started. John Dickinson and James Snowden, partner and director respectively at CBW, were appointed joint liquidators of the company.
John Dickinson had this to say:
“Dorwin’s problems culminated in 2015 as the impact of storms to the supply of a critical product from a sole supplier in 2013 snowballed. The slow progression of projects, together with increasingly long contractor payment terms and reduced levels of stock, put a squeeze on cash flow despite a strong order book.”
Mr Dickinson went on to say that:
“When companies face pressure from creditors, in particular where it gets to the point of a winding up petition, they must act quickly. As can be seen, the repercussions can be fatal. In this case, despite a workable and practical CVA, the damage caused by the freezing of the bank account and a period without trading was irrecoverable.”
Winding-up Petition Solicitors
If you have received a winding up petition our legal experts are able to provide legal advice and representation. Our team of solicitors and barristers can obtain a court adjournment; CVA’s or successfully challenge the validity of the winding up petition to ensure that the petition is dismissed, often without public advertisement.
The articles published on this website, current at the date of posting, are for reference purposes only and do not constitute legal advice and should not be relied upon as such. Specific legal advice about your specific circumstances should always be sought separately before taking any action.Call us on ☎ 02071830529 or email us on for more information about the specialist insolvency legal services we provide. Our team of London lawyers are based in Middle Temple adjacent to the Companies Court. We are committed to providing professional and specialist legal advice and are leading experts in cases involving winding-up petitions.