GPL 2024 Realisations Limited (03121752): administration
- Status
- Administration ended
- Administration began
- 2024-05-03
- Administrators
- Jonathan Charles Marston, Michael Thomas Denny
- Administrators' firm
- Alvarez & Marsal
- Formerly
- GPL Realisations Limited; GO Plant Limited; De Facto 437 Limited
- Incorporated
- 1995-11-03
- Location
- Brighton
- Industry
- 77120 Renting and leasing of trucks and other heavy vehicles
Why it went into administration
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- HMRC / tax arrears
- Property / lease costs
- Sustained trading losses
- Competition / price pressure
From the administrators' statement
The Company was incorporated on 3 November 1995, with its main operations including the provision of operated (“wet”) hire sweepers to manage waste on behalf of the construction, housebuilding and infrastructure sectors. The Company is headquartered in Coalville, Leicestershire, and operates from nine regional depots across the UK.
In 2017, Endless LLP (“Endless”) acquired the Company and Go Plant Fleet Services Ltd (“GPFSL”), via an investment vehicle (Alpha Holdco 1 Limited) (together “the Group”). Since 2017, Endless had been working alongside management to address legacy operational challenges and implement performance improvement initiatives. These were focused inter alia on governance across waste management and vehicle maintenance, delivering an endto-end system integration, and improving the quality of financial reporting and management information.
In late 2023, an employee of the Company tragically lost their life following a health and safety incident involving one of the Company’s vehicles. The circumstances surrounding this remain subject to an ongoing investigation involving the Health and Safety Executive. Following the incident, the Company necessarily implemented a number of operational safeguards in line with advice received. Whilst able to continue to operate, the additional compliance and remediation requirements added to the cost base and impacted operational efficiency.
Administrators' statement of proposals (2024-05-18) · Companies House register