Pointer Design and Manufacture Limited (02251321): administration
- Status
- Administration ended
- Administration began
- 2013-02-12
- Administrators' firm
- Deloitte
- Formerly
- Pointer Plastics Limited
- Incorporated
- 1988-05-04
- Location
- Leeds
- Industry
- 22290 Manufacture of other plastic products
Why it went into administration
- Funding withdrawn / unable to refinance
- Loss of a key customer, supplier or contract
- Sustained trading losses
From the administrators' statement
Bezier was a well-established contract printer with operations in Wakefield, Leeds and Poole However, following a prolonged period of difficult trading and the recent loss of a number of key customers, the Directors concluded that Bezier was unable to continue to meet its financial obligations
Pointer, a manufacturer of point of sale marketing products, transferred certain customer contracts to Bezier in November 2012 These contracts were then transferred to a sister company, Coutts, prior to the appointment of the Joint Administrators All transfers between the Group companies were accounted for in accordance with group accounting principles Pointer still has some residual assets, but is no longer trading and does not have any employees Coutts continues to trade as normal and ts not subject to any insolvency proceedings
Pror to the appointment of the Jomt Administrators, Deloitte carried out advisory work and contingency planning on behalf of one of the Group’s secured creditors, Grace Bay Our work included reviewing the Companies’ short to medium term cash flow forecasts, considenng the Group’s restructuring proposals and advising Grace Bay on their lending options
Administrators' statement of proposals (2013-04-05) · Companies House register