Schlegel Automotive Europe Limited (03871320): administration
- Status
- Administration ended
- Administration began
- 2012-10-04
- Administrators' firm
- Springfields Business Recovery & Insolvency
- Formerly
- Metzeler Automotive Profile Systems (UK) Limited; Cornerflame Limited
- Incorporated
- 1999-11-04
- Location
- Leicester
- Industry
- 22190 Manufacture of other rubber products
Why it went into administration
- Loss of a key customer, supplier or contract
From the administrators' statement
The business in some shape and form can be traced back to 1919. Through the years the business has developed and its ownership changed Jn more recent times the business was operated from Dunstable (which closed in 2000), Woodside (2001 — 2004) and also the current Coalville premises The business was purchased by the Company from BTR Sealing Systems (UK) Limited in 2000 In 2008 the shares of the Company were sold to Global Finvest Ltd (“GFL”) and it became part of the Ruia Group, ultimately owned by the Ruia family in India In order to finance the purchase of the shares, GFL obtained a loan of c.£6M from the Bank and this was cross-guaranteed by the Company and then secured as detailed in section 2 above
The Company manufactures and supplies sealing systems to the automotive industry, principally the rubber seals around the vehicle doors and windows The Company has several high profile customers
Since the acquisition by the Rua Group in 2008 the Company has been operated by directors based in India assisted by a management team in the UK
Administrators' statement of proposals (2012-11-23) · Companies House register