Powerdrive PSR Limited (01334624): administration
- Status
- Administration ended
- Administration began
- 2013-09-23
- Administrators
- Daniel Plant, Simon Franklin Plant
- Administrators' firm
- SFP Restructuring
- Formerly
- Powerdrive Ventures Limited; Powerdrive PSR Limited; Peribridge Limited
- Incorporated
- 1977-10-19
- Location
- London
- Industry
- 32990 Other manufacturing n.e.c.
Why it went into administration
- Cash flow / liquidity pressure
- Rising costs / inflation
- Credit insurance / supplier credit withdrawn
From the administrators' statement
Albeit that statutory information 1s contained in Appendix Il, these Proposals provide bnef details in relation to the Company's history
The Directors have advised that from 1977 to 1980 the Company traded in the manufacture and distnbubon of mechanical power transmission components for the non-automotve industry It did this using the Amencan markets and distnbuting to UK and Amencan clients In 1980, its shareholding was purchased by BPLC
In 1992, the Former Directors formed NDL This company was incorporated as a vehicle to acquire the shares of the Company from BPLC NDL therefore looks to have been established as a holding company, holding solely the Company's shares as its assets At this time is it understood that the Company employed circa 25 members of staff and operated from the Trading Premises
Administrators' statement of proposals (2013-10-18) · Companies House register