EX CVLL Limited (03042492): administration
- Status
- Administration ended
- Administration began
- 2016-02-02
- Administrators
- Michael Stephen Elliot Solomons, Richard Brian Keley
- Administrators' firm
- BM Advisory
- Formerly
- Clearvision Lighting Limited
- Incorporated
- 1995-04-05
- Location
- Crawley
- Industry
- 27400 Manufacture of electric lighting equipment
Why it went into administration
- Competition / price pressure
- Sustained trading losses
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Property / lease costs
From the administrators' statement
The Company was formed in April 1995 and ts wholly owned by its parent company, Clearvision International Limited (‘the Parent Company”) The Parent Company has two other wholly owned subsidiaries, Clearvision Hehionix Limited and Virtual Daylight Technologies Limited (together the “Clearvision Group”) The Company had an average annual turnover of £2.5m over the last five years and until recently it traded from leasehold premises located in Aldershot, Hampshire. It had 25 employees
It orginally developed and marketed an artificial daylight lighting system in the workplace, supplying various leading companies such as BAE Systems, Trinity Mirror, Glaxo SmithKline and DeBeers. In 2010, the mcrease In efficiency requirements under new building regulations meant that the core technology of the artificial daylight lighting products became obsolete. The Company then adopted advanced LED technology to produce an energy efficient product range suited to a range of commercial applications and by 2011 it was competing at the higher performance end of the commercial market against competition predominantly from imports
In early 2014, the directors of the Company (Paul Stephenson (“the Managing Director”), Michael Nebot, Andrew Pirrie and Paul Jarvis) acquired the Company as part of the Clearviston Group Paul Jarvis and Andrew Pirrie are
Administrators' statement of proposals (2016-02-18) · Companies House register