TMS Realisations Limited (02671684): administration
- Status
- Administration ended
- Administration began
- 2011-04-01
- Administrators' firm
- KPMG
- Formerly
- Traffic Management Services Limited
- Incorporated
- 1991-12-16
- Location
- Nottingham
- Industry
- 9305
Why it went into administration
- Creditor pressure / legal action
- Sustained trading losses
- Funding withdrawn / unable to refinance
- HMRC / tax arrears
- Loss-making contracts / project overruns
From the administrators' statement
The Company was incorporated in 1991 and specialised in contracting traffic management and events management services, operating from a freehold property in Retford, Nottinghamshire
As a result of trading losses in 2009 and 2010, arising predominantly from a loss making contract, the Company began to experience significant cash flow and creditor pressure (including HMRC arrears of approximately £290,000) during the early part of 2011
Despite the Director’s efforts to stabilise the business through an injection of additional cash, this was ultimately not sufficient to meet the considerable funding requirements of the business
Administrators' statement of proposals (2011-05-27) · Companies House register