# P&S Realisations Limited (01418524)

> Why UK company 01418524 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/01418524

- **Status:** Administration ended
- **Administration began:** 2012-02-10
- **Administrators' firm:** EY
- **Formerly:** Potter & Soar Limited; Wickrick Limited
- **Incorporated:** 1979-05-09
- **Location:** Manchester
- **Industry:** 2875

## Why it went into administration

- Sustained trading losses
- Parent or group failure
- Competition / price pressure

## From the administrators' statement

The Companies manufactured and imported welded and woven wire mesh. They traded from two freehold properties in St Helens and Banbury, both owned by Pentargon, a Group company

The Companies each had an annual turnover of approximately £2.5m. Multimesh manufactured and supplied products to the medical, food and automotive industries. P&S predominately manufactured and supplied architectural, pharmaceutical, automotive and filtration products Multimesh and P&S employed 44 and 20 staff respectively at the date of the Joint Administrators’ appointments

The Group, summansed below, was formed tn 2008 through the acquisition of the SEL, P&S, Multimesh and Pentargon businesses by SGL, a Northern Irish registered business, set up as a holding company to acquire the UK businesses The acquisition was funded through a combination of upfront consideration, provided by a term loan with the Bank (secured on the properties held by Pentargon and fixed and floating charges over the Group companies and a personal guarantee provided by Barry Aughey, a Group director) together with £1 2m of deferred consideration payable by SGL to the vendor Working capital facilities were provided to the Group by UBIF

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/01418524/filing-history/MzA1NTY1MzE0OWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/01418524

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