Teal SKY Limited (01169048): administration
- Status
- Administration ended
- Administration began
- 2020-01-20
- Administrators
- Steve Kenny
- Administrators' firm
- KBL Advisory
- Formerly
- Fine & Performance Chemicals Limited; Finehall Limited
- Incorporated
- 1974-05-03
- Location
- Sale
- Industry
- 20590 Manufacture of other chemical products n.e.c.
Why it went into administration
- Creditor pressure / legal action
- Property / lease costs
- Loss of a key customer, supplier or contract
- Competition / price pressure
From the administrators' statement
A Statement of Proposals setting out how the purpose of the Administration is to be achieved will be issued to creditors as soon as reasonably practicable and certainly within eight weeks from the date of our appointment. However, to assist creditors in understanding the affairs of the Company and the reasons for the pre-packaged sale, a brief history is set out below.
The Company was incorporated as Finehall Limited in May 1974 providing consultancy and project management services. Simon Lines was appointed Director of the Company in February 2010.
In October 2013, the Company acquired the business and assets of a company which provided fine chemicals to the pharmaceutical sector and it was at this time the Company changed its name from Finehall Limited to its current trading style, Fine & Performance Chemicals Limited. lan Lawson was appointed as a second Director to the Company in September 2013 (and subsequently resigned in January 2020).
Administrators' statement of proposals (2020-03-03) · Companies House register