Torotrak (Development) Limited (02118766): administration
- Status
- Administration ended
- Administration began
- 2017-12-08
- Administrators' firm
- Deloitte
- Formerly
- Precis (600) Limited
- Incorporated
- 1987-04-02
- Location
- Coventry
- Industry
- 28150 Manufacture of bearings, gears, gearing and driving elements
From the administrators' statement
The Group took steps to wind down and close TDL’s trading operations on a solvent basis during 2017.
The Group’s residual operations were struggling to generate sufficient income (largely from existing licencing arrangements) to meet ongoing operating expenses, Cash reserves were therefore at risk of being diminished.
Therefore, the Group continued to engage Deloitte to advise on strategic options and advise on the potential disposal of FAL and TDL.
Administrators' statement of proposals (2018-02-01) · Companies House register