P R F Engineering Limited (06646752): administration
- Status
- In administration
- Administration began
- 2025-07-31
- Administrators
- Richard Cole, Steve Kenny
- Administrators' firm
- KBL Advisory
- Incorporated
- 2008-07-15
- Location
- Sale
- Industry
- 25110 Manufacture of metal structures and parts of structures
Why it went into administration
- Creditor pressure / legal action
From the administrators' statement
KBL met with Dereck Rennie, the Director of the Company, on 26 June 2025. The options that were considered between the Director and KBL Advisory Limited are explained in detail in the SIP16 disclosure statement which can be found at Appendix IV.
A pre-pack administration was considered to be the appropriate course of action with the transfer of the 4 employees and to avoid break in supply of goods and services, which would enable a value to be achieved for goodwill and ensure a more effective debt collection process. Following discussion with the Director and the options available, the strategy to place the Company into Administration was agreed.
Bibby, as qualifying floating charge holder agreed to the proposed pre-pack sale and confirmed that they would support the appointment of Administrators under Paragraph 22 of Schedule B1 to the Insolvency Act 1986.
Administrators' statement of proposals (2025-09-26) · Companies House register