TLE Limited (03568511): administration
- Status
- Administration ended
- Administration began
- 2013-05-31
- Administrators' firm
- KRE Corporate Recovery
- Incorporated
- 1998-05-21
- Location
- Reading
- Industry
- 85590 Other education n.e.c.
Why it went into administration
- Funding withdrawn / unable to refinance
- Loss of a key customer, supplier or contract
- Competition / price pressure
From the administrators' statement
The following has been provided by the sole director of the company, and has not been ventied or audited by either the Joint Administrators or KRE Corporate Recovery LLP Certain element of the background are subject to confidentiality agreements Whilst the Administrators are aware of the parties involved, in the background they are described as Prime A, Pnme B, Target A, Target B, College A, Private Equity A, and Private Equity B
TLE started working as a subcontractor to Pnme A in 2003 It grew with them over the following 9 years, becoming the largest subcontractor in their network for a number of years
In March 2011 TLE were approached by Pnvate Equity House A to explore it making an investment in TLE in exchange for a partial shareholder exit With the support of PwC Corporate Finance who ran a Iimited process this advanced to Heads of Terms
Administrators' statement of proposals (2013-07-04) · Companies House register