Raven Holdings Limited (05434371): administration
- Status
- Administration ended
- Administration began
- 2016-04-21
- Administrators
- Diana Frangou, Guy Edward Brooke Mander
- Administrators' firm
- RSM
- Formerly
- Redi-166 Limited
- Incorporated
- 2005-04-25
- Location
- Birmingham
- Industry
- 31090 Manufacture of other furniture
Why it went into administration
- Loss of a key customer, supplier or contract
- Funding withdrawn / unable to refinance
- Supply chain disruption
- HMRC / tax arrears
From the administrators' statement
Bnef background
Ultra was incorporated in September 1986 It manufactured and sold upholstered furniture for UK household retailers from leased premises in the West Midlands
It was largely profitable, however in January 2014, technical problems were identified with an Ultra product being sold to its main customer The outcome was a £1 million direct loss (mitigated by a refund from suppliers totaling £0 6 million) plus an ongoing effect on trading in the short and medium term
Administrators' statement of proposals (2016-05-19) · Companies House register