Hudson Engineering Services Limited (02620741): administration
- Status
- Administration ended
- Administration began
- 2011-06-21
- Administrators
- Anne Clare O'Keefe, Kevin James Coates
- Administrators' firm
- AlixPartners
- Formerly
- Hudson Electronic Systems Limited; Vitesse Security Limited
- Incorporated
- 1991-06-17
- Location
- Manchester
- Industry
- 4521
Why it went into administration
- HMRC / tax arrears
- Creditor pressure / legal action
- Funding withdrawn / unable to refinance
From the administrators' statement
The Company’s principal business activity was the provision of planned and responsive maintenance solutions and full facility management services, through fixed term contracts with local authorities, government agencies, companies and registered landlords
The Company 1s one of the Kinetics Group of companies (the Group), which was formed 1n 2006 via a management buy-out of DC Group Limited, which included the shares 1n Seaflame Company Limited (Seaflame) and Cameron Industrial Services Limited (CIS) In 2007, 2008 and 2009 other third party businesses were acquired and added to the Group These included the Company, TA Horn Limited (TA Horn), Walmotts Limited (Walmotts), The Lord Group Limited (Lord), Sureway Gas Limited (Sureway) and the business and assets of ist Saxon Clenmay Limited The latter of these was merged into Seaflame Kinetics Group Limited (KGL) was set-up as a hotding company and 1s a 100% subsidiary of Kinetics Holdings Limited (KHL)
In late March 2011, the Group’s management identified the need for additional cash resources to allow a restructuring/rationalisation of the Group It was proposed this would give it the best platform on which to win new work and thus improve financial performance
Administrators' statement of proposals (2011-08-16) · Companies House register