P&M Aviation Limited (04626413): administration
- Status
- Administration ended
- Administration began
- 2019-05-07
- Formerly
- Laydine Limited
- Incorporated
- 2002-12-31
- Location
- Taunton
- Industry
- 30300 Manufacture of air and spacecraft and related machinery
Why it went into administration
- Brexit
- Loss of key people
From the administrators' statement
The Company traded as a microlight manufacturer with a history going back more than 30 years. As well as producing new aircraft, the Company also provided spare parts for more than 4,000 aircraft worldwide.
Historically the Company had traded profitably and had encountered and dealt with many changes in the market place by the production of new innovative aircraft. However, between 2010 and 2013, the Company suffered a succession of losses until 2014 when it made a significant profit for the year.
Following this, the Company once again incurred losses in 2015 but was supported by substantial reserves as a result of the previous year’s profit. In this same year the managing director resigned and Andrew Cranfield was brought in to seek to return the Company to profitability.
Administrators' statement of proposals (2019-07-11) · Companies House register