Premium Lighting Solutions Limited (07024430): administration
- Status
- Administration ended
- Administration began
- 2015-07-01
- Administrators' firm
- Nicholas Barnett of Libertas Associates
- Formerly
- Knowel Corporation Limited
- Incorporated
- 2009-09-20
- Location
- Bushey
- Industry
- 46520 Wholesale of electronic and telecommunications equipment and parts
Why it went into administration
- Creditor pressure / legal action
From the administrators' statement
The Company was incorporated in September 2009, and commenced trading shortly thereafter The Company was set up to take advantage of a gap In the commercial market for bespoke, energy efficient, lighting solutions
In the first few years the Company was focused pnmarily on product development, and sourcing suitable material at reasonable cost During this time the Director invested significant amounts of personal funding, and also sourced additional funding from family and friends and other commercial lenders In doing this, a number of personal guarantees were also entered into The funds were used primarily to expand the business and name, creating a degree of brand awareness Additionally, larger contracts needed an ability to absorb a degree of upfront costs, and so a cushion was necessary in order to allow the Company to actively bid and deliver on projects
Slowly but surely, the Company became more widely recognised in the industry, with larger contracts being tendered for and ultimately awarded During 2014 the Company was also nominated for the MSDUK 2014 Supplier of the Year Award for Innovation, which it subsequently won
Administrators' statement of proposals (2015-08-04) · Companies House register