MRGB Realisations Limited (01008301): administration
- Status
- Administration ended
- Administration began
- 2011-12-05
- Administrators' firm
- PwC
- Formerly
- Manroland Great Britain Ltd.; MAN Roland Great Britain Limited; Pershke Price Service Organisation Limited
- Incorporated
- 1971-04-19
- Location
- London
- Industry
- 46690 Wholesale of other machinery and equipment
Why it went into administration
- Pension deficit
- Credit insurance / supplier credit withdrawn
From the administrators' statement
Manroland AG bad experienced a significant downturn in orders from mid 2011 onwards as a result of a declining market for printing presses. The position did not recover during the latter half of 2011 and accordingly, on 25 November 2011 Manroland AG filed a petition to initiate insolvency proceedings with the junsdictional district court at Augsburg.
The filing by Manroland AG had a direct impact on the Company for several reasons.
• Whilst the Company had adequate cash in hand to meet its current liabilities, the guarantee provided by Manroland AG in respect of the Company’s defined benefit pension scheme deficit could no longer be relied upon The deficit resulted in the Company being balance sheet insolvent;
Administrators' statement of proposals (2012-01-31) · Companies House register