PSL Realisations Limited (00181427): administration
- Status
- Administration ended
- Administration began
- 2019-02-05
- Administrators' firm
- Cork Gully
- Formerly
- Pegasus Solutions Limited; Utell Limited; Pegasus Solutions Limited; Rezsolutions Limited; Reed Telepublishing Limited; Agricultural Press Farms Limited
- Incorporated
- 1922-04-29
- Location
- London
- Industry
- 62090 Other information technology service activities
Why it went into administration
- Competition / price pressure
- Loss of a key customer, supplier or contract
- Credit insurance / supplier credit withdrawn
From the administrators' statement
PSL was incorporated on 29 April 1922 as Agricultural Press Farms Limited but rebranded to PSL from 2000 to 2001 and then to Utell Limited from 2001 to 2004, before changing its name back to PSL.
PSL is part of the Pegasus Solutions Group (“Pegasus” or “the Group”), a global enterprise in the travel technology industry which specialises in the electronic distribution and process management of hotel room transactions. The primary holding company of the Group (and 100% shareholder of PSL) is a US corporation Pegasus Solutions Companies (“PSC”). PSL is also the 100% shareholder of a number of global subsidiaries which are in the process of being wound-up (excluding the German and Japanese subsidiaries which were acquired by the Buyer).
A table summarising the corporate structure is set out below:
Administrators' statement of proposals (2019-04-02) · Companies House register