Train Plant Realisations Limited (07846971): administration
- Status
- In administration
- Administration began
- 2024-01-10
- Administrators
- Clare Boardman, Gavin George Scott Park
- Administrators' firm
- Teneo
- Formerly
- TXM Plant Limited; Network Rail (Nds-Plant) Limited
- Incorporated
- 2011-11-14
- Location
- Birmingham
- Industry
- 77320 Renting and leasing of construction and civil engineering machinery and equipment
Why it went into administration
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Sustained trading losses
- Loss of a key customer, supplier or contract
From the administrators' statement
The Group began experiencing a decline in trading performance and liquidity levels in 2023, attributed to budgetary constraints for its key customers which impacted shift volumes.
In September 2023, the Group identified a requirementfor additional funding to navigate a forecastcash shortfall, with mitigation strategies such as deferring capital expenditure on fleet vehicles and negotiating more favourable customer paymentterms deemed insufficient to improve liquidityalone.
This decline in performance and a forecast funding requirement resulted in the Group, along with PNC, approaching Teneo to conducta high-level review of the Group’s shortterm cash flow forecastand assess the options available to the Group.
Administrators' statement of proposals (2024-03-11) · Companies House register