GWC Realisation 2017 Limited (05580565): administration
- Status
- Administration ended
- Administration began
- 2017-04-10
- Administrators
- Mark Elijah Thomas Bowen
- Administrators' firm
- PwC
- Formerly
- The Grosvenor Wilton Company Limited
- Incorporated
- 2005-10-03
- Location
- Droitwich
- Industry
- 32990 Other manufacturing n.e.c.
Why it went into administration
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Competition / price pressure
From the administrators' statement
| was introduced to the directors initially as a result of their direct contact with my firm, following a recommendation from a personal contact of MF.
My colleague Justin Brown (‘JB’) initially met with the directors on 3 August 2016 and provided the directors with some generic advice regarding the insolvency options that would be available to the company. It was apparent at that stage that the company needed some additional funding to assist in its short-term cash flow problem. Following that meeting the directors approached several funders, including their current bankers, invoice discounters and a financial broker to assess its funding options.
On the 22 February 2017 PF contacted JB to advise that his father MF had sadly passed away and requested a further meeting regarding the company and its financial position. A further meeting took place with PF on 24 February 2017, at which it became apparent that the company needed to enter into an insolvency process. At that meeting PF advised that he had been contacted by a third party who had expressed and initial interest in investing in the company.
Administrators' statement of proposals (2017-05-18) · Companies House register