Pulse Electrical Wholesale Limited (04622696): administration
- Status
- Administration ended
- Administration began
- 2018-11-02
- Formerly
- AGS Dormant 25 Limited
- Incorporated
- 2002-12-20
- Location
- Sheffield
- Industry
- 46439 Wholesale of radio, television goods & electrical household appliances (other than records, tapes, CD's & video tapes and the equipment used for playing them)
Why it went into administration
- Bad debts / customer insolvency
- Property / lease costs
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Loss of a key customer, supplier or contract
From the administrators' statement
The Company was incorporated on 20 December 2002. It’s centre of main interest is in England and Wales and it carries on the business of electrical wholesalers.
Andrew John Bishop had worked in the electrical wholesale business for over 20 years and Paul Anthony Riley had worked in the electrical wholesale industry from 1998, where he was the top sale executive for the company he worked for. Due to the vast experience of the directors, they believed that they could successfully run their own company.
In 2002 Andrew and Paul decided to incorporate their own company with a view to supplying electrical materials to electrical contractors. The company was incorporated with 4 original shareholders who each introduced initial funds of £25,000. Preparations for commencement of trading were made and in September 2003 a Company structure along with business plans were prepared.
Administrators' statement of proposals (2019-01-05) · Companies House register