# Atlas Machinery (U.K.) Limited (02664325)

> Why UK company 02664325 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/02664325

- **Status:** Administration ended
- **Administration began:** 2016-04-04
- **Administrators:** Lee Van Lockwood, Robert Alexander Henry Maxwell
- **Administrators' firm:** Begbies Traynor
- **Incorporated:** 1991-11-20
- **Location:** Leeds
- **Industry:** 46690 Wholesale of other machinery and equipment

## Why it went into administration

- Creditor pressure / legal action
- Cash flow / liquidity pressure
- HMRC / tax arrears
- Competition / price pressure

## From the administrators' statement

The Company was incorporated on 20 November 1991 and operated as a supplier of used book binding and finishing equipment to the print industry, with the intention to offer a real alternative to buying new machinery The Company re-furbished and re-conditioned machinery as required and provided a full installation service to customers across the globe

As has been widely publicised, the printing industry has been in decline in the recent past, particularly in the UK where there have been a number of large print company failures This has, at least in part, been due to the rise in the use of digital marketing This has had a knock-on effect on the demand for machinery with fewer customers and an increased amount of available machinery as a result of these company failures

The genera! decline in the printing industry, coupled with increased competition in the print machinery supply sector, caused the Company to run tnto cash flow difficulties and the Company was at the limit of its lending facilities with Lloyds Bank The Company had sought to reduce its overheads by reducing stock levels, which allowed It to exit from a secondary warehouse saving approximately £70,000 per annum, although with mounting credit pressure, Lloyds Bank requested that BTG Financial Consulting carry out a review of the Company's cash flow and forecasts in July 2015

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/02664325/filing-history/MzE1MDY1MDgwNmFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/02664325

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