EXL Realisations Limited (02541593): administration
- Status
- Administration ended
- Administration began
- 2011-12-14
- Formerly
- Exitile Limited
- Incorporated
- 1990-09-20
- Location
- Birmingham
- Industry
- 2875
Why it went into administration
- Sustained trading losses
- Cash flow / liquidity pressure
- Loss of a key customer, supplier or contract
- Competition / price pressure
From the administrators' statement
My first involvement with the Company came on 28 November 2011 when | attended a meeting with two of the three Directors at the Company’s trade premises in Nuneaton Mr C Marvin and Mr D Bienkinsopp (“the Directors”) were in attendance at that meeting
We discussed the assets and habiltties of the Company and established that it was experiencing financial difficulties and that its future viability may be in question The Directors were particularly concerned at a pattern of reducing turnover, in particular the loss of one key customer that equated to a loss of income of approximately £1 5m per annum
Having considered the possibility or reorganising the Company’s position, in light of the dramatic reduction in turnover, the Directors accepted that the Company had insufficient funds to put such a plan to effect
Administrators' statement of proposals (2012-02-13) · Companies House register