ADL Realisations 2022 Limited (04747867): administration
- Status
- Administration ended
- Administration began
- 2022-08-18
- Administrators
- Jonathan Charles Marston, Robert Andrew Croxen
- Administrators' firm
- Alvarez & Marsal
- Formerly
- Aurora Distribution Limited
- Incorporated
- 2003-04-29
- Location
- Brighton
- Industry
- 27400 Manufacture of electric lighting equipment
Why it went into administration
- COVID-19
- Rising costs / inflation
- Supply chain disruption
- Funding withdrawn / unable to refinance
- Competition / price pressure
From the administrators' statement
Full details of the events leading up to the administration can be found in the Statement of Insolvency Practice 16 (“SIP 16”) statement at Appendix 4. A brief summary is provided below, which can be read in conjunction with the SIP 16 statement.
Trading challenges and funding requirement
The Group has faced a number of challenges over the last 24 months as a result of the COVID-19 pandemic and other prevailing macroeconomic conditions. These challenges include increased costs, lead times and uncertainty in the supply chain as well as insufficient funding for research and development leading to decreased demand for its product.
Administrators' statement of proposals (2022-08-31) · Companies House register