DC RMS Ltd (07292528): administration
- Status
- Administration ended
- Administration began
- 2015-02-17
- Administrators
- William James Wright, Mark Jeremy Orton
- Administrators' firm
- KPMG
- Incorporated
- 2010-06-22
- Location
- Bristol
- Industry
- 80100 Private security activities
Why it went into administration
- Sustained trading losses
From the administrators' statement
KPMG was approached by the Directors of the Companies in January 2015 and was instructed to explore the options available for the business, Including the investment and sale options available
As noted above, the exposure to the oil market, had led to a reduced sales pipeline for the Companies As a result, the existing level of infrastructure was considered inappropriate for the forecast level of future business This in addition to the level of labilties in the Companies meant that it was considered extremely unlikely that any party would wish to buy the business outside of an Admunistration process
In addition, as the Company operated i the international risk consultancy market providing security, tracking and if necessary extracting individuals from potentially politically unstable locations, ongoing service provision was essential for many of the Company’s customers As a consequence, many of the customer contracts contained termination clauses on insolvency and damages clauses for nonsupply of services which would make it difficult to trade the business whilst in Administration
Administrators' statement of proposals (2015-04-13) · Companies House register