DC RMS Holdings Limited (07803833): administration
- Status
- Administration ended
- Administration began
- 2015-02-17
- Administrators
- William James Wright, Mark Jeremy Orton
- Administrators' firm
- KPMG
- Formerly
- DC RMS Holdings Ltd
- Incorporated
- 2011-10-10
- Location
- Bristol
- Industry
- 64209 Activities of other holding companies n.e.c.
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 businesses, 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 tnappropniate for the forecast level of future business This, in addition to the level of liabilities in the Companies meant that 1t was considered extremely unlikely that any party would wish to buy the business outside of an Administration process
In addition, as the Companies operated in the international nsk consultancy market providing security, tracking and If necessary extracting individuals from potentially politically unstable locations, ongoing service provision was essential for many of the Companies’ customers As a consequence, many of the customer contracts contain 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 (2015-04-17) · Companies House register