# PSM Realisations Limited (02748787)

> Why UK company 02748787 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/02748787

- **Status:** Administration ended
- **Administration began:** 2013-08-12
- **Administrators:** Martin T Coyne, Andrew Turpin
- **Administrators' firm:** Quantuma
- **Formerly:** Press & Shear Machinery Limited; Accurate Task Limited
- **Incorporated:** 1992-09-18
- **Location:** Birmingham
- **Industry:** 33200 Installation of industrial machinery and equipment

## Why it went into administration

- Funding withdrawn / unable to refinance
- HMRC / tax arrears
- Creditor pressure / legal action

## From the administrators' statement

The Company had been supplying machines and spares to the sheet metal industry since the 1960s It supplied punch presses, lasers, press brakes and fully automated manufacturing centres and had established its reputation in the market place as a market leader

In more recent times, the Company’s reputation had been strong and the business developed robust tiles with a Finnish machine supplier, Finn-Power The Company was the sole UK agent for the supply, installation and maintenance of these machines This relationship helped grow the business over a period of some eighteen years until approximately five years ago when the business of Finn-Power was sold

The acquiring business already had an established UK sale and maintenance operation and, as a consequence, the Company was given three months’ notice to terminate its Agency which resulted tn an almost immediate loss of 45% of its turnover

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/02748787/filing-history/MzA4NjU3OTQ5NGFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/02748787

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