KIL Realisations 2015 Limited (02904510): administration
- Status
- Administration ended
- Administration began
- 2015-05-28
- Administrators' firm
- Begbies Traynor
- Formerly
- Kilgour Industries Limited; Foodhot Limited
- Incorporated
- 1994-03-03
- Location
- Preston
- Industry
- 25990 Manufacture of other fabricated metal products n.e.c.
Why it went into administration
- Competition / price pressure
From the administrators' statement
The Company manufactures and sells components for the aerospace industry from tts principle trading address at Red Marsh Drive, Red Marsh Industral Estate, Thornton Cleveleys, Lancashire, FY5 SHP The Company commenced trading on 03 March 1994 and recently traded under the Directorship of Mr Raymond Kilgour
The reasons for the Company’s insolvency
The Company began to experience financial difficulties in 2013 following the acquisition of Gretone Engineenng Limited (now in Administration) (“Gretone”) paired with a high level of investment into research and development for future projects Historically, the Company had produced good results and had secured a strong customer base however the Company was relying on previous year’s reserves and the support of its sister company Kilgour Metal Treatments Limited ("KMT”) to fund ongoing trade In September 2014, senior staff were brought in, in an attempt to turn the position around however the cash flow remained strained and the position continued to worsen -3-
Administrators' statement of proposals (2015-07-29) · Companies House register