LCL Electronics Limited (02368995): administration
- Status
- Administration ended
- Administration began
- 2019-07-08
- Administrators
- Andrew Poxon, Mike Dillon
- Administrators' firm
- Leonard Curtis
- Formerly
- Leicester Circuits (Conventional) Limited
- Incorporated
- 1989-03-31
- Location
- Manchester
- Industry
- 26110 Manufacture of electronic components
Why it went into administration
- Sustained trading losses
- HMRC / tax arrears
- Creditor pressure / legal action
- Loss of a key customer, supplier or contract
From the administrators' statement
The Company was incorporated on 31 March 4989 as Leicester Circuits (Conventional) Limited. On 5 January 1993, the Company changed its name fo LCL Electronics Limited.
The principal trading activity of the Company was the manufacture of audio and visual electrical equipment. The Company typically offered customers full turnkey manufacturing solutions, including prototype, pre-production and medium volumes of product build and cable harnessing. In addition, it produced, assembled and test printed circuit boards (PCBs) for a wide range of customers, including blue chip companies.
The business was initially capitalised through the introduction of funds by its Shareholders. Throughout the lifespan of the business the Company relied on various loans and had granted security to a number of different funders. At the date of the Administration, the Company had outstanding charges registered against it RBSIF and RBSCS although as stated at 2.9 above, itis now understood that this charge has been satisfied.
Administrators' statement of proposals (2019-08-22) · Companies House register