Panel Plan (Realisations) Ltd (02911583): administration
- Status
- Administration ended
- Administration began
- 2023-07-13
- Administrators
- Gary Steven Pettit
- Administrators' firm
- PBC Business Recovery & Insolvency
- Formerly
- Panel Plan Limited
- Incorporated
- 1994-03-23
- Location
- Northampton
- Industry
- 82990 Other business support service activities n.e.c.
Why it went into administration
- HMRC / tax arrears
- Regulatory change or action
- Brexit
From the administrators' statement
The company traded as a manufacturer of office fumiture having been incorporated in 1994. The company traded successfully for many years.
The company began to suffer during the coronavirus pandemic, having had a downtum earlier as a resuit of Brexit. The company began to recover but then was hit with a large increase in the cost of raw materials which the company found difficult to pass on to customers.
Coinciding with this was the illness of a key employee of the business who left the business in 2022 on medical grounds. This had an impact on the company’s sales as well as placing an increased burden on the current director.
Administrators' statement of proposals (2023-08-08) · Companies House register