Assets to be sold as stage engineering specialist enters administration
Tue, 16 Apr 2024 | ADMINISTRATION
A stage engineering specialist based in West Yorkshire has fallen into administration and ceased trading, with administrators now set to market its assets for sale. Halifax-based Safe Stage Services Limited fell into administration on April 9, appointing Howard Smith and Rick Harrison of Interpath Advisory as joint administrators.
Safe Stage Services, which was founded in 2016 by Managing Director Richard Turner, provided steel manufacturing and installation services for stages in the studio and theatre industries. As well as supplying stage engineering and performance system products, the company also had its own in-house design and fabrication teams.
The company provided technical stage engineering support across all aspects of theatre and performance, with services including stage lift installation, hoists and drapes, rigging and trussing and variable acoustic systems.
Despite working on projects locally, around the UK and internationally, the business had suffered as a result of cashflow issues and, due to its financial position, was unable to continue trading.
On its website, the company listed recent stage engineering projects at a University in Nashville, Tennessee, the Liverpool Playhouse Theatre and the King’s Hall in Ilkey, as well as engineering work on the lift systems at Leicester’s De Montfort Hall theatre.
Upon the appointment of the joint administrators, the company’s two full-time employees were made redundant and the company ceased trading, with a process now underway to sell the assets of the business.
In the company’s accounts for the year to January 31 2023, its fixed assets were valued at just short of £189,000, while current assets were valued at slightly over £266,000. At the time, the business owed nearly £420,000 to creditors, with net assets amounting to £171,104.
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