MBL Realisations Limited (02489169): administration
- Status
- Administration ended
- Administration began
- 2011-06-27
- Administrators
- Andrew Fender
- Administrators' firm
- Sanderlings Business Services
- Formerly
- Mckechnie Brass Limited; Bolton Brass Ltd.; Bolton MKM Limited; Outokumpu Copper MKM Limited; Boliden MKM Limited; Mckechnie Extruded Products Limited; Emsland Limited
- Incorporated
- 1990-04-04
- Location
- Walsall
- Industry
- 2744
Why it went into administration
- Funding withdrawn / unable to refinance
- Competition / price pressure
From the administrators' statement
The directors contacted me on 13 June 2011 in order to discuss the potential options with regards to the future of the bustness The directors had been seeking an increased Confidential Invoice Discounting ( CID ) facility together with a stock finance facility during the previous few months to support the continued growth of the business
The business had a requirement for high working capital facilities due to the need to hold substantial varied metal stocks as part of the production process It 1s necessary as part of the production process for circa 40% of metal cast to be recycled and included in future casts to ensure that sufficient product ts cast and extruded to meet all customers needs In the weeks immediately prior to my appointment the metal stock had reduced from c 340 tonnes at the end of May to c 260 tonnes due to difficulties in obtaining supplies because of the company s financial postion This reduction in metal progressing through the manufacturing process was creating substantial production and delivery difficulties
Although a number of CID faciltties were offered to the company the directors were unable to obtain offers for facilities in respect of stock finance and the directors had concluded that they needed to seek professtonal advice regarding the future of the business
Administrators' statement of proposals (2011-08-11) · Companies House register