GS Realisations 2014 Limited (02731147): administration
- Status
- Administration ended
- Administration began
- 2014-03-21
- Administrators' firm
- SC Advisory Services
- Formerly
- Glentworth Security Limited
- Incorporated
- 1992-07-15
- Location
- Derby
- Industry
- 80100 Private security activities
Why it went into administration
- HMRC / tax arrears
- Cash flow / liquidity pressure
- Bad debts / customer insolvency
- Funding withdrawn / unable to refinance
- Creditor pressure / legal action
- Loss of a key customer, supplier or contract
- Parent or group failure
- Competition / price pressure
From the administrators' statement
The Company was incorporated in July 1992 with a view to providing security services to industnal and commercial businesses The Company initially traded from offices in Langold near Worksop, before moving to tts current freehold office premises in the centre of Worksop
Typical services provided to clients include static guarding, alarmed response, key holding and mobile patrols The Company operates under contracts with customers, which 1n most cases, last for a period of one year
The Company has traded reasonably profitably in the past, however, in the last 3 years, trading conditions have become difficult as a result of the economic climate and there has been a negative impact on the Company's profit margins The Company and tts directors worked hard to generate new business and continued to trade profitably, despite decreasing profit margins on its contracts and pressure on its cash flow
Administrators' statement of proposals (2014-04-01) · Companies House register