NGL Realisations Limited (04932645): administration
- Status
- Administration ended
- Administration began
- 2023-05-05
- Administrators
- Kirstie Jane Provan, Gary Paul Shankland
- Administrators' firm
- Begbies Traynor
- Formerly
- Nasmyth Group Limited; GW 1025 Limited
- Incorporated
- 2003-10-15
- Location
- London
- Industry
- 70100 Activities of head offices
Why it went into administration
- HMRC / tax arrears
- Creditor pressure / legal action
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- COVID-19
- Sustained trading losses
- Supply chain disruption
- Property / lease costs
- Rising costs / inflation
- Loss of a key customer, supplier or contract
- Competition / price pressure
From the administrators' statement
The Company was incorporated in England and Wales on 15 October 2003 (company number 04932645) under the name GW 1025 Limited for the purposes of manufacturing and selling machinery, plant, tools, and other products relating to the aerospace industry. Shortly after its incorporation, in December 2003 the Company changed its name to Nasmyth Group Limited.
The principal activity of the Company was to act as a holding company in respect of its subsidiaries in the UK and elsewhere. The Company’s subsidiaries provided specialist precision engineering services to the aerospace, defence and related industries (the Company and its subsidiaries are referred to together as the “Group”). The Company also provided certain central administrative and treasury functions within the Group and acted as a counterparty to certain contracts critical to the continued trading operations of the Group. The Group is headquartered in the UK and currently employs approximately 453 people worldwide, of which 14 were employed directly by the Company.
The principal subsidiaries of the Company were:
Administrators' statement of proposals (2023-05-20) · Companies House register