DRS (EU) Limited (05256549): administration
- Status
- Administration ended
- Administration began
- 2012-04-26
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2004-10-12
- Location
- Liverpool
- Industry
- 49410 Freight transport by road
Why it went into administration
- Property / lease costs
- Bad debts / customer insolvency
- Sustained trading losses
From the administrators' statement
In May 2008, R J Jones, a director of an established haulage based in North Wales, acquired DRS which was a failing company for £30,000 Outstanding creditors at this point being £366,000 the number of staff employed 20
The business continued to make losses and these totalled £150,663 to 30 Apnl 2008, £495,953 to 30 Apni 2009, £49,000 30 Apnt 2010 and £242,839 to 30 Apni 20114
The business continued with the support of R J Jones Ltd who have provided working capital in excess of £900,000 It was always the intention of turning the business from loss making into a profitable venture that would in tum create synergies with R J Jones
Administrators' statement of proposals (2012-06-26) · Companies House register