NG Realisations 2012 Limited (05641510): administration
- Status
- Administration ended
- Administration began
- 2012-06-29
- Administrators
- William James Wright, Colin Michael Trevethyn Haig
- Administrators' firm
- KPMG
- Formerly
- Norbain Group Limited; Upperpoint Holdings Limited; Travelmotor Limited
- Incorporated
- 2005-12-01
- Location
- Birmingham
- Industry
- 82990 Other business support service activities n.e.c.
Why it went into administration
- Cash flow / liquidity pressure
- Parent or group failure
- Competition / price pressure
From the administrators' statement
NG was incorporated on 1 December 2005 and acted as the ultumate holding company for the Group ND was incorporated on 29 January 2001 and its princtpal activity was acting as an intermediate holding company to the Group NF was incorporated on 1 December 2005 and its pmncipal activity was also acting as an intermediate holding company to the Group None of the Companies had any direct employees
The business was funded through two banking facilities totalling £52 1m The facilities were primarily in Finance but the Lenders had cross guarantee security across all Group companies
Pnor to KPMG’s involvement, the Group had suffered from a general downturn over the past three years in the construction sector which led to cessation/deferment of new project work and pricing pressure from competitors In addition foreign exchange movements on US Dollars exacerbated the Group’s shortage of liquidity
Administrators' statement of proposals (2012-08-24) · Companies House register