KDR Talent Solutions Ltd (04979520): administration
- Status
- Administration ended
- Administration began
- 2023-10-27
- Administrators
- Darren Brookes
- Administrators' firm
- Milner Boardman Partnership
- Formerly
- KDR Recruitment Ltd; KDR Computer Recruitment Limited
- Incorporated
- 2003-11-28
- Location
- Altrincham
- Industry
- 78109 Other activities of employment placement agencies
Why it went into administration
- COVID-19
- Loss of a key customer, supplier or contract
- Sustained trading losses
From the administrators' statement
The Company had been trading for the last 20 years and had been profitable over that time but has experienced several challenges in recent years. These mainly included the Covid-19 pandemic, the subsequent economic downturn and the loss of the Company’s main customers.
The Covid-19 pandemic has been the most impactful event during the last few years of the Company’s trading, and it was also the catalyst to subsequent difficulties arising. The pandemic and national ‘lockdown’ led to many workplaces shutting down for a short period. The Company’s customers were not immune to this and massively scaled back their operations, leading to a reduction in the demand for more staff. Due to being in the recruitment industry, this would significantly affect the Company’s ability to earn revenue. In fact, the Company saw its pipeline reduce by approximately 90% at the start of the pandemic.
The onset of the pandemic came at a difficult time for the Company as it had recently expanded, by moving into their current premises, as the directors felt that the Company was experiencing significant growth. Therefore, the Company had just raised their overheads and then revenue dropped to a level that couldn’t be sustained for too long.
Administrators' statement of proposals (2023-11-10) · Companies House register