Somar International Ltd (02682071): administration
- Status
- Administration ended
- Administration began
- 2012-02-20
- Administrators
- Christopher Norman, Ian Walker
- Administrators' firm
- Begbies Traynor
- Formerly
- Somar Environmental Systems Limited; Marshville Limited
- Incorporated
- 1992-01-29
- Location
- Exeter
- Industry
- 3162
Why it went into administration
- Energy costs
From the administrators' statement
The text in this Section of the statement of the proposals ts primarily based on information provided by the Company's management to the Administrators
The Company was incorporated in 1992 and for the first 18 years of its existence its primary business mode! was the recruttment of international distnbutors to resell energy efficient technologies, namely motor controllers and, more recently, lighting applications
In 2007 the then management team concluded a Management Buy-out from the founder shareholders The Company started selling direct in the UK and had some success, most notably a significant contract with the Go Ahead transportation group Other successes included installatons with companies such as Sainsbury's and Coca Cola, and dunng this time the Company expenenced modest growth and profitability. In 2009 the Company expenenced financial stress due to a reduction in capital expenditure programmes as a consequence of the global economic downtum, a legal dispute with its outsourced lighting manufacturer, and increased distnbutor frustrations
Administrators' statement of proposals (2012-04-18) · Companies House register