Nu-Era Lighting Ltd (07103331): administration
- Status
- Administration ended
- Administration began
- 2015-08-10
- Administrators
- Nigel Millar, Steven M Law
- Administrators' firm
- Baker Tilly Restructuring and Recovery
- Incorporated
- 2009-12-14
- Location
- Bury St Edmunds
- Industry
- 27400 Manufacture of electric lighting equipment
Why it went into administration
- Creditor pressure / legal action
- Property / lease costs
- Management failings / irregularities
From the administrators' statement
The Company was incorporated in December 2009 with Jeremy Hollingsworth as the sole director, and Lawrence Reardon joining him to become a director in November 2010 The Company manufactured hghting equipment and electric lamps
The Company traded successfully for many years with turnover reaching £4m and employing 21 staff.
In November 2014 1t came to light that the debtor ledger, against which RBS Invoice Finance Limited (“RBSIF”) had lent the Company funds, did not reflect the true financial position due to alleged potential fraudulent activity by a former member of staff This resulted in RBSIF being owed a substantial amount more than the records accounted for.
Administrators' statement of proposals (2015-10-08) · Companies House register