IES Realisations Limited (04602364): administration
- Status
- Administration ended
- Administration began
- 2017-03-17
- Formerly
- Integrated Effluent Solutions Ltd
- Incorporated
- 2002-11-27
- Location
- Sheffield
- Industry
- 36000 Water collection, treatment and supply
Why it went into administration
- Creditor pressure / legal action
- HMRC / tax arrears
- Bad debts / customer insolvency
- Property / lease costs
- Rising costs / inflation
- Loss of a key customer, supplier or contract
From the administrators' statement
The Company was incorporated in November 2002 and traded as a provider of industrial wastewater treatment systems for a variety of clients in manufacturing and service industries. The Company developed water treatment systems for clients to allow them to process wastewater safely at their own premises.
In 2005, the Company was approached by a client requiring the treatment of sulphate in water. Considerable research was undertaken by the Company on this project and a government research grant was awarded to the Company for developing sulphate processing technology. The sulphate treatment technology was trialled in 2007 and the first order was received in 2008. Following the development of this patented technology, the Company received orders from large, multinational companies.
in 2013, one particular order for plant installation was passed to a subcontractor. The subcontractor subsequently started legal action for the non-payment of invoices in December 2013. The legal dispute had an adverse effect on business and the resources required to deal with the dispute resulted in a decrease in revenue over the next three years. The legal dispute was settled in 2016 in favour of the Company, however costs totalling £160,000 were incurred.
Administrators' statement of proposals (2017-04-06) · Companies House register