# Valet Realisations Limited (02528613)

> Why UK company 02528613 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/02528613

- **Status:** Administration ended
- **Administration began:** 2011-10-17
- **Administrators:** Mark Granville Firmin, Howard Smith
- **Administrators' firm:** KPMG
- **Formerly:** Inter Clean Ltd; ALL Vehicle Valeting Limited
- **Incorporated:** 1990-08-07
- **Location:** Newcastle upon Tyne
- **Industry:** 7470

## From the administrators' statement

The Company was incorporated in August 1990 and commenced trading m Washington, Tyne and Wear, from that date The principal activity of the Company was as a suppher of valeting services to motor vehicle dealerships across the United Kingdom via a network of subcontractors

Following a partial management buy-out in April 2008, the Company suffered from turnover levels considerably below expectations and increasingly unsustainable levels of debt This resulted in the Company entering a Company Voluntary Arrangement (CVA) in March 2010 which was supervised by Eric Walls of KSA Group Ltd

In view of the losses being sustained by the business throughout 2010 and into 2011, the directors explored various sources of additional funding for the Company In light of the difficulty in finding a source of funding KPMG LLP were engaged to assist the Directors in the marketing of the business

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/02528613/filing-history/MzA0OTA1MDA5MmFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/02528613

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.