Promac Solutions Limited (05836391): administration
- Status
- Administration ended
- Administration began
- 2017-07-06
- Administrators' firm
- Mazars
- Formerly
- Yale Industrial Handling Limited
- Incorporated
- 2006-06-05
- Location
- Bristol
- Industry
- 46630 Wholesale of mining, construction and civil engineering machinery
Why it went into administration
- Regulatory change or action
- Brexit
- Competition / price pressure
- Cash flow / liquidity pressure
- Sustained trading losses
From the administrators' statement
The Company was incorporated on 5 June 2006. The Company was primarily a dealership, supplying new plant and machinery for earthmoving, civil engineering, construction, demolition and recycling. It also operated a parts and servicing facility and also sold used plant and machinery, along with operating a small hire fleet.
The Company held dealership agreements with Doosan, Bobcat, and Mecalac (trading as Terex). The sale of new equipment in relation to these three manufacturers accounted for the majority of the Company’s business. However, the Company also held agreements to sell products for a number of other manufacturers.
Based in Aldermaston, near Reading, Berkshire, the Company’s operation initially proved to be successful, enabling it to be allocated additional sales territories for Doosan, eventually leading it to cover London, Kent, Essex, Berkshire, Buckinghamshire, Oxfordshire, Surrey, East and West Sussex, Middlesex, Hertfordshire, Hampshire and Bedfordshire. 3.5
Administrators' statement of proposals (2017-08-21) · Companies House register