# Peratech Limited (03440348)

> Why UK company 03440348 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/03440348

- **Status:** Administration ended
- **Administration began:** 2014-01-22
- **Administrators' firm:** Deloitte
- **Formerly:** Tipglaze Limited
- **Incorporated:** 1997-09-26
- **Location:** Leeds
- **Industry:** 26110 Manufacture of electronic components

## Why it went into administration

- Loss of a key customer, supplier or contract

## From the administrators' statement

Historically the Company had a narrow customer base, generating revenue from a small number of fixed term contracts with global, blue chip companies With the Company's cost base being primarily fixed, the Company had always been vulnerable to an unexpected loss of a major customer

Throughout FY13 and FY14, Peratech’s primary source of income came from a single development license agreement which expired in October 2013 The Company entered into negotiations to renew this contract, managing to secure a 3 month extension until January 2014, when it was expected that a new development and manufacturing license would be agreed

However, a renewal could not be agreed, severely impacting the Company's cash flows and tts ability to settle liabilities due to the Secured Creditors

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/03440348/filing-history/MzA5NjY0NDE0NGFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/03440348

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.