RM Realisations 2014 Limited (01637169): administration
- Status
- Administration ended
- Administration began
- 2014-08-27
- Administrators' firm
- FRP Advisory
- Formerly
- Ravenace Metals Limited; Ravenace Limited
- Incorporated
- 1982-05-21
- Location
- Birmingham
- Industry
- 46720 Wholesale of metals and metal ores
Why it went into administration
- HMRC / tax arrears
- Creditor pressure / legal action
- Funding withdrawn / unable to refinance
- Loss of a key customer, supplier or contract
- Sustained trading losses
- Competition / price pressure
From the administrators' statement
The Company was incorporated In 1982 and has since traded successfully as a multi metal stockholder, operating from 18,500 sq ft leasehold premises based in Smethwick in the West Midlands. The Company employed an experience workforce, employing 27 members of staff.
A recent management buyout out was completed by the current directors on 7 July 2014 from the previous shareholder director Mark Hemus. The Company was purchased for a nominal sum.
The Company's working capital Is funded by an Invatce discount facllity through Royal Bank Of Scotland Invoice Finance Limited (*RBSIF”).
Administrators' statement of proposals (2014-09-18) · Companies House register