# EXL Realisations Limited (02541593)

> Why UK company 02541593 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/02541593

- **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

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/02541593/filing-history/MzA1MjM2ODY2MGFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/02541593

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