FTL Realisations 2017 Limited (02035882): administration
- Status
- Administration ended
- Administration began
- 2017-08-14
- Administrators
- Simon David Chandler, Scott Christian Bevan
- Administrators' firm
- Mazars
- Formerly
- F T L Foundry Equipment Limited; F.T.L. Roper Limited; Eadstall Limited
- Incorporated
- 1986-07-10
- Location
- Birmingham
- Industry
- 25990 Manufacture of other fabricated metal products n.e.c.
Why it went into administration
- Creditor pressure / legal action
- Competition / price pressure
- Loss of a key customer, supplier or contract
From the administrators' statement
The Company was incorporated on 10 July 1986 with the purpose of manufacturing and fabricating bespoke metal products. Aside from its UK customer base the company also had a global reach with contracts in Turkey and Russia. The company employed 37 persons across the business.
The Company predominately raised its finance to complete works by initially taking 30% of their fee prior to commencing work. The remaining funds for completing a contract were split as follows; 60% prior to delivery and a further 10% to be paid after delivery.
Initial advice and meetings
Administrators' statement of proposals (2017-10-18) · Companies House register