RPE Assets Ltd (05555774): administration
- Status
- Administration ended
- Administration began
- 2011-11-07
- Administrators
- Jamie Playford
- Administrators' firm
- Acuity Professional Partnership
- Formerly
- Reco Precision Engineering Limited
- Incorporated
- 2005-09-07
- Location
- Norwich
- Industry
- 7487
Why it went into administration
- HMRC / tax arrears
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
From the administrators' statement
RPE Assets Ltd (“the Company’) was incorporated on 7 September 2005 as a small, niche engineering business The current shareholders and directors acquired this business in January 2010 to enhance the capabilities of the production companies already established
within their Group
A lack of financial reporting from the finance manager at the time and no visibility of any operational reporting gave cause for concern to the directors A pressing need to see the business make dramatic improvements to its business model resulted in some redundancies in 2010 and a focus on secunng new business The general manager of the Company resigned in February 2011 and a Group production manager was recruited tn March 2011 to oversee the turnaround of the Company and introduce and maintain best working practice
Administrators' statement of proposals (2011-11-29) · Companies House register