PTS Realisations Limited (02001192): administration
- Status
- Administration ended
- Administration began
- 2019-01-22
- Administrators' firm
- KPMG
- Formerly
- Philpotts Limited; Philpotts (Chester) Limited; Lancesway Limited
- Incorporated
- 1986-03-18
- Location
- London
- Industry
- 47110 Retail sale in non-specialised stores with food, beverages or tobacco predominating
Why it went into administration
- HMRC / tax arrears
- Management failings / irregularities
- Creditor pressure / legal action
- Sustained trading losses
- Parent or group failure
From the administrators' statement
Philpotts Limited was incorporated on 18 March 1986 and was a trading subsidiary of the Group principally offering breakfast and lunchtime foods.
The Company was the Group’s second largest trading entity, after Stonebeach Limited, but had no employees, as employee contracts were held in the name of Patisserie Holdings Plc. Its registered office was located at the Group’s head office on Sarehole Road in Birmingham.
In October 2018, following the presentation of a petition by HMRC to wind up Stonebeach Limited, it was discovered that material accounting misstatements had been made in the Group’s audited accounts.
Administrators' statement of proposals (2019-03-29) · Companies House register