# Powerdrive PSR Limited (01334624)

> Why UK company 01334624 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/01334624

- **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- Credit insurance / supplier credit withdrawn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

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/01334624/filing-history/MzA4NzIyNTc0MGFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/01334624

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.