Geoquip Marine UK Limited (07580773): administration
- Status
- Administration ended
- Administration began
- 2016-03-03
- Administrators
- Elizabeth Galbraith Mackay, Alastair Paul Beveridge, Anne Clare O'Keefe
- Administrators' firm
- AlixPartners
- Incorporated
- 2011-03-28
- Location
- Manchester
- Industry
- 28990 Manufacture of other special-purpose machinery n.e.c.
Why it went into administration
- Sustained trading losses
From the administrators' statement
The Company fs {involved tn the offshore sector (gas, ofl and renewable energy) providing geotechnical and geophysical data acquisition and analysis services to its chents {tis part ofa larger group of companies that operate In the same sector and is a 100% subsidiary of Geoquip Marine Holdings AG (Holdings) which is headquartered in Switzerland
The Company's main operations were to obtain data from the seabed and sub-strata, interpret that data and provide engineering and scientific recommendations to its chents to assist with the design and installation of offshore structures and pipelines The Company also provided services in connection with oil well development, such as drilling pilot holes where shallow gas is expected or providing data for conductor installation
Asa result of global economic factors impacting the price of otl and the offshore sector as a whole, the overall group experienced a reduction in both turnover and profitability, becoming significantly loss making in 2015.
Administrators' statement of proposals (2016-04-11) · Companies House register