Varatio Limited (00174236): administration
- Status
- Administration ended
- Administration began
- 2017-05-05
- Administrators
- Gareth Wyn Roberts, Robert Christopher Keyes
- Administrators' firm
- KRE Corporate Recovery
- Incorporated
- 1921-04-15
- Location
- Reading
- Industry
- 28150 Manufacture of bearings, gears, gearing and driving elements
Why it went into administration
- Loss of a key customer, supplier or contract
- Rising costs / inflation
From the administrators' statement
3.1 Rob Keyes of KRE Corporate Recovery LLP was initially contacted by Mr Mark Clinch in early April 2017 in respect of the Company’s financial position following a recommendation to seek advice by their external accountant.
3.2 An initial meeting was held with the Company’s sole director, Mr Colin Brown, and Mr Mark Clinch on 6 April 2017 and it was abundantly clear that the Company was insolvent both on a cash and balance sheet basis.
3.3 The directors of the Company continued to liaise with Rob Keyes of KRE Corporate Recovery over the two-week period following this meeting whilst it considered the available options.
Administrators' statement of proposals (2017-07-07) · Companies House register