Pentargon Limited (03804219): administration
- Status
- Administration ended
- Administration began
- 2012-02-10
- Administrators
- Thomas Andrew Jack, Samuel James Woodward
- Administrators' firm
- EY
- Formerly
- Cogdusk Limited
- Incorporated
- 1999-07-09
- Location
- Banbury
- Industry
- 7020
Why it went into administration
- Funding withdrawn / unable to refinance
- Property / lease costs
- Sustained trading losses
From the administrators' statement
The Group, summarised below, was formed in 2008 through the acquisition of the SEL, P&S, Muitimesh and Pentargon businesses by SGL, a Northern Irish registered business, set up as a holding company to acquire the UK businesses The acquisition was funded through a combination of upfront consideration, provided by a term toan with the Bank (secured on the properties held by Pentargon and fixed and floating charges over the Group companies and a personal guarantee provided by Barry Aughey, a Group director) together with £1 2m of deferred consideration payable by SGL to the vendor. Working capital facilities were provided to the Group by UBIF
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Soar Engineering Limited (Non trading holding company)
Administrators' statement of proposals (2012-04-16) · Companies House register