M.L. Electronics Limited (03020152): administration
- Status
- Administration ended
- Administration began
- 2017-01-12
- Administrators
- Julie Anne Palmer, Gary Paul Shankland
- Administrators' firm
- Begbies Traynor
- Incorporated
- 1995-02-09
- Location
- Southampton
- Industry
- 74100 specialised design activities
Why it went into administration
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Bad debts / customer insolvency
- Brexit
From the administrators' statement
The company was started in 1995 by Mike Lloyd (the ‘ML’ in ML Electronics) and his wife, and was run successfully as a lifestyle business The business developed many specialist power devices for its clients
The Company produces an average turnover of approximately £2 1m per annum and employed 19 members of staff
In order to allow the directors, Michael and Sharon Lloyd to retire from the business a management team were brought in to run it in November 2015
Administrators' statement of proposals (2017-02-02) · Companies House register