Radium Automotive Services PLC (03876791): administration
- Status
- Administration ended
- Administration began
- 2012-08-24
- Administrators
- Mark Jeremy Orton, Christopher Robert Pole
- Administrators' firm
- KPMG
- Formerly
- Johnsonvellen PLC; JET Total Vehicle Solutions PLC; JET Total Vehicle Solutions Limited; JET Logistics Limited
- Incorporated
- 1999-11-15
- Location
- Birmingham
- Industry
- 46180 Agents specialised in the sale of other particular products
Why it went into administration
- Cash flow / liquidity pressure
- Loss of a key customer, supplier or contract
- Sustained trading losses
From the administrators' statement
Radium Automotive Services Plc (formerly Johnsonvellen Plc and Jet Total Vehicles Solutions Plc) was incorporated on 15 November 1999 and traded from a 34 acre leasehold site in Long Marston near Stratford upon Avon as well as an adjacent 12 acre storage compound Pnor to Administration the Company had employed 169 people
The Company’s customers were primarily vehicle manufacturers and fleet management companies The Company’s principal services were the refurbishment of former lease vehicles and associated storage and ancillary services
In the months preceding insolvency, the Company experienced a fall in sales This decrease was principally due to a reduction in the volume and mux of car refurbishments and the loss of a key customer As a consequence, the business became loss making and experienced significant cash flow difficulties
Administrators' statement of proposals (2012-10-22) · Companies House register