Machinex UK Limited (06616383): administration
- Status
- Administration ended
- Administration began
- 2012-02-22
- Administrators' firm
- RSM
- Incorporated
- 2008-06-11
- Location
- London
- Industry
- 5187
Why it went into administration
- Creditor pressure / legal action
- Loss of a key customer, supplier or contract
- Bad debts / customer insolvency
From the administrators' statement
Groupe Machinex Inc is one of the leading designers and manufacturers of Material Recycling Facilities (“MRF”) in North America Plant design in North America favours a ‘single stream’ process where glass 1s processed with all other collectibles Contrastingly, in Europe, glass 1s ordinarily processed separately In the UK, however, there had been moves to develop the single stream process tn light of this the decision was taken by Groupe Machinex Inc (“GMI”) to enter the UK market Accordingly, Machinex (UK) Limited (“Machinex") was incorporated on June 11" 2008, as a wholly owned subsidiary of GMI, following a successful bid for a major UK contract
The Company was initially funded with an advance of £1,461,650 from GMI, with initial trading also being supported by the first contract deposit from the UK contract The principle activities of Machinex were to provide sales support and service on a contract To this effect, one member of staff was employed to manage the installation of MRFs and ongoing service provision throughout the United Kingdom
Machinex’s main customers were the large recycling facility operators, Cory Environmental Limited (“Cory”), UPM-Kymmene Limited ("UPM’) and Shanks Waste Management Limited (‘Shanks’), with the approximate value of each contract being £12,773,365, £9,300,000 and £4,779,222 respectively
Administrators' statement of proposals (2012-04-19) · Companies House register