# PSR Contract Solutions Limited (06120765)

> Why UK company 06120765 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/06120765

- **Status:** Administration ended
- **Administration began:** 2023-08-01
- **Administrators:** William Innes, Rebecca Makaruk
- **Administrators' firm:** Kroll
- **Incorporated:** 2007-02-21
- **Location:** Birmingham
- **Industry:** 78109 Other activities of employment placement agencies

## Why it went into administration

- Cash flow / liquidity pressure
- HMRC / tax arrears
- Pension deficit
- Competition / price pressure

## From the administrators' statement

• The Company has been affected by a number of factors over recent years, which have culminated in the Company's inability to continue to pay its debts as and when they fall due.

• The Company had difficulties generating customer invoices resulting in increased debtor payment days due to data migration issues following the integration of its IT systems.

• The data issues also caused system errors submitting HMRC returns resulting in significant arrears impacting cash flow and profitability in the financial years FY22 and FY23.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/06120765/filing-history/MzM4OTg3NDgyMGFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/06120765

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.