Hydrodec Group PLC (05188355): administration
- Status
- Administration ended
- Administration began
- 2021-07-20
- Administrators
- Philip Reynolds, Anthony John Wright
- Administrators' firm
- FRP Advisory
- Formerly
- Vert-Eco Group PLC
- Incorporated
- 2004-07-23
- Location
- London
- Industry
- 70100 Activities of head offices
Why it went into administration
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Sustained trading losses
- Parent or group failure
From the administrators' statement
The Company was incorporated on 23 July 2004 as Vert-Eco Group Plc and subsequently changed its name to Hydrodec Group Plc on 20 December 2004.
The Company operated as the UK-based head office of a clean-tech industrial oil rerefining group, the Group, with global operations in the US and Australia. The Group
applied proprietary technology to re-refine used and contaminated waste oil to ' produce high quality industrial oils for re-use for original purpose, whilst generating carbon offsets.
Administrators' statement of proposals (2021-09-17) · Companies House register