CI Realisations 2023 Ltd (05367631): administration
- Status
- Administration ended
- Administration began
- 2023-11-17
- Administrators
- Anthony Collier, Simon Farr
- Administrators' firm
- FRP Advisory
- Formerly
- Cestrian Imaging Limited; Fleetness 400 Limited
- Incorporated
- 2005-02-17
- Location
- Manchester
- Industry
- 18129 Printing n.e.c.
Why it went into administration
- HMRC / tax arrears
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Rising costs / inflation
- Competition / price pressure
- Parent or group failure
From the administrators' statement
Cestrian was a graphic and signage printer, operating across the UK and Europe with a long standing Blue-Chip customer base including national supermarkets and outdoor media companies. The Company was incorporated on 17 February 2005 and traded from a leasehold premises in Cheadle and employed 39 members of staff.
The Company was part of the wider PFI Group, which includes other graphic signage and printing companies across the UK. A full group structure is provided in the main body of the report. Gardners, also part of the PFI Group entered into Administration on 17 November 2023 with Anthony Collier and Simon Farr being appointed as Joint Administrators, further details on this are provided in the Joint Administrators proposals and report to creditors relating to Gardners.
The Company benefitted from an Invoice Discounting Facility, with Cynergy which was secured by way of fixed and floating charges. An Invoice Discounting facility was also provided to Gardners who provided Cynergy with security containing fixed and floating charges.
Administrators' statement of proposals (2023-11-27) · Companies House register