PYM Realisations Limited (02561220): administration
- Status
- Administration ended
- Administration began
- 2011-08-31
- Administrators
- Matthew Ingram, Jason James Godefroy
- Administrators' firm
- Kroll
- Formerly
- Pyramid Products Limited; Pyramid Plastics Moulders Limited; Statuslogic Limited
- Incorporated
- 1990-11-22
- Location
- London
- Industry
- 5147
Why it went into administration
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- HMRC / tax arrears
- Competition / price pressure
From the administrators' statement
21 Statutory information on the Companies and summaries of their financial positions are included at Appendix 1 Novo
22 Novo was incorporated in July 2008 by the Directors with the intention of facilitating a BIMBO of Pyramid with the assistance of certain of Pyramid’s management team at the time The business of Pyramid is mentioned further below
23 On 8 September 2008, Novo acquired 80% of the issued share capital of Pyramid for consideration of £3,800,000 in cash and £500,000 in loan notes according to Novo’s statutory financial accounts. This was funded by long-term borrowings and working-capital financing from the Secured creditors
Administrators' statement of proposals (2011-10-19) · Companies House register