Solo Thermal Imaging Limited (07081684): administration
- Status
- Administration ended
- Administration began
- 2014-07-18
- Administrators
- Gillian Margaret Sayburn, Gerald Maurice Krasner
- Administrators' firm
- Begbies Traynor
- Formerly
- GB Solo Manufacturing Limited
- Incorporated
- 2009-11-19
- Location
- Newcastle upon Tyne
- Industry
- 32990 Other manufacturing n.e.c.
Why it went into administration
- Funding withdrawn / unable to refinance
From the administrators' statement
The Company operated as a developer and manufacturer of bespoke thermal imaging cameras and helmets for the cruise market, commercial shipping and land based fire, search and rescue teams The Company traded from rented premises in Darlington The Company and its predecessor had been operating In this industry for a number of years The products were established as leaders in their marketplace and a number of multi-national customers had placed orders for the products
Despite having successful products, the Company did not have sufficient funding to fully market the products and generate the sales that they believed were achievable
At the end of 2012, the Company changed the manufacturer of one component and the new component did not perform as tt should There were a number of minor technical glitches which resulted in a number of units being returned to the Company for remedial work prior to being re-supplied This caused a lack of customer confidence and the Company also had to spend a significant amount of time on remedial work rather than making new products for supply
Administrators' statement of proposals (2014-09-02) · Companies House register