Vital Services Group Limited (02761631): administration
- Status
- Administration ended
- Administration began
- 2013-11-04
- Administrators
- Daniel Francis Butters, Daniel James Mark Smith, William Kenneth Dawson
- Administrators' firm
- Deloitte
- Formerly
- Actionstrength Limited
- Incorporated
- 1992-11-03
- Location
- Manchester
- Industry
- 70100 Activities of head offices
Why it went into administration
- HMRC / tax arrears
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Sustained trading losses
- Parent or group failure
- Competition / price pressure
From the administrators' statement
The Company is an intermediate hoiding company tn a wider group with eight wholly owned UK registered trading subsidiaries and eight dormant subsidiary entities A ninth UK registered trading subsidiary entity is majyonty owned (70%) by the Company with the remaining 30% of shares being owned by three individuals The ultimate beneficial owner and Chief Executive Officer of the group is John Smith
The Companies are providers of labour, predominantly focused in the rail, mechanical and engineering sectors The largest businesses in the group are Rail and Resources which together accounted for over 80% of the group by turnover
The Companies employed c 153 staff operatmg trom 16 siles across tha UK All employees of the Companies transferred to Morson on completion of the transaction A further 55 staff remain employed by the companies noted above not subject to this Transaction The employment position of c 300 apprentices Is currently being clarified
Administrators' statement of proposals (2013-12-20) · Companies House register