Kinsey Allen International Limited (07250412): administration
- Status
- Administration ended
- Administration began
- 2011-05-24
- Administrators
- Jane Bronwen Moriarty, Allan Watson Graham
- Administrators' firm
- KPMG
- Formerly
- Dmwsl 635 Limited
- Incorporated
- 2010-05-11
- Location
- London
Why it went into administration
- HMRC / tax arrears
- Competition / price pressure
- Cash flow / liquidity pressure
From the administrators' statement
The Company was incorporated in May 2010 as DMWSL It purchased the business and assets of KAIL Recruitment Limited (previously known as Kinsey Allen International Limited), from its Administrators in June 2010 DMWSL changed its name to Kinsey Allen International Limited shortly after the purchase was completed
The Company provided executive recruitment services, for permanent and short term interim positions and traded from premises in London and Brighton The Company’s overseas subsidiaries provided similar services tn Paris, New York, Hong Kong and Doha, all of which were wholly owned, eacept for Doha in which the Company held a 51% shareholding
In the eleven months to March 2011, the Company had a turnover of c£15 million, but made a nominal loss of c£70,000 Durtng this period the Company acquired a competitor firm, Ruston Wheb and had invested significantly in tts New York subsidiary It appears that the acquisition and investment was funded out of working capital which put the Company under pressure in terms of maintaining sts ongoing trading §habilites, particularly in face of a downturn in the UK market
Administrators' statement of proposals (2011-07-19) · Companies House register