DEL Realisations Limited (04067603): administration
- Status
- Administration ended
- Administration began
- 2011-07-26
- Administrators' firm
- Deloitte
- Formerly
- Devlin Electronics Limited; Gateseeker Limited
- Incorporated
- 2000-09-07
- Location
- Reading
- Industry
- 7260
Why it went into administration
- Funding withdrawn / unable to refinance
- Sustained trading losses
From the administrators' statement
The Company had been experiencing trading losses since December 2010 The Shareholding Directors were unable to advance further funds to the Company and support was sought from the Bank The Bank requested that an independent solvency review be carried out by Deloitte Prior to the commencement of the review Deloitte requested that the Directors review their short term cash flow forecast On review of the short term cash flow forecast, the Directors identified that the Company could not operate within its facilities and that to continue to trade would be likely to worsen the position for creditors The Directors were also informed that the Bank would not advance further facilites The Directors were unable to secure any further investment from third parties As a result of the foregoing the Directors requested that Robin Allen and Richard Hawes of Deloitte be appointed as Joint Administrators of the Company as soon as possible
Administrators' statement of proposals (2011-09-09) · Companies House register