Pindar Ocean Racing PLC (01766606): administration
- Status
- Administration ended
- Administration began
- 2011-11-23
- Administrators
- Mark Granville Firmin, Howard Smith, Brian Green
- Administrators' firm
- KPMG
- Formerly
- Pindar London PLC; The Browcom Group PLC
- Incorporated
- 1983-11-02
- Location
- Neville Street
- Industry
- 74990 Non-trading company
Why it went into administration
- Creditor pressure / legal action
- Parent or group failure
- Competition / price pressure
From the administrators' statement
Pindar Ocean Racing Plc (“the Company”) was incorporated on 2 November 1983 The Company’s principal asset 1s a htigation claim against a former suppher who manufactured and supphed a defective mast for a competitive racing yacht owned by the Company
On appointment of the Joint Administrators the Company had no employees and was not trading The Company previously owned an ocean racing yacht for competitive racing with the aim of developing the Group’s brand awareness Other vessels owned by the Company were made available to other group companies for business promotional activities and client entertaining At the date of appointment of Jomt Administrators the Company did not own any yachts
The Company is part of a larger group and Mark Granville Firmn, Howard Smith and Brian Green of KPMG LLP were appointed as Joint Administrators of the Company’s parent, G A Pindar & Son Limited and sister companies, Pindar Plc and Pindar Print Limited on 26 July 2011 Mark Granville Firmin and Brain Green were also appointed as Joint Liquidators over Pindar Set Limited on 21 October 2011.
Administrators' statement of proposals (2012-01-19) · Companies House register