IP Realisations (2012) Limited (04607577): administration
- Status
- Administration ended
- Administration began
- 2012-04-20
- Administrators
- Paul Reeves, Kevin Gerald Murphy
- Administrators' firm
- Leonard Curtis
- Formerly
- Intego Packaging Limited
- Incorporated
- 2002-12-03
- Location
- Bury
- Industry
- 46180 Agents specialised in the sale of other particular products
Why it went into administration
- Creditor pressure / legal action
- Cash flow / liquidity pressure
- Loss of a key customer, supplier or contract
- Credit insurance / supplier credit withdrawn
From the administrators' statement
31 The Company was incorporated in December 2002 The directors and shareholders since incorporation have been Mr Scott Whitton (sales director) and Mr Paul Barlow (finance director)
32 The Company previously traded from leasehold premises at Unit 26, Oakhill Trading Estate, Devonshire Road, Worsley, M28 3PT however had recently moved to other leasehold premises at Units 1 & 2, Emlyn Street, Farnworth, Bolton The Company provides packaging to a number of customers and employs 7 staff plus the 2 directors
33 The Company was funded by way of an invoice financing facility with ABN Amro Commercial Finance (formerly City Invoice Finance Limited) (‘ABN Amro”) who hold secunty by way of a debenture created on 18 September 2007 The Company operates a current account with Barclays although no credit facilities were provided
Administrators' statement of proposals (2012-06-15) · Companies House register