Skytrac (Rail) Solutions Ltd (07853451): administration
- Status
- Administration ended
- Administration began
- 2016-09-09
- Administrators
- Elizabeth Galbraith Mackay, Anne Clare O'Keefe, Peter Mark Saville
- Administrators' firm
- AlixPartners
- Formerly
- Skytrac Rail Solutions Ltd
- Incorporated
- 2011-11-18
- Location
- Manchester
- Industry
- 46390 Non-specialised wholesale of food, beverages and tobacco
Why it went into administration
- Loss of a key customer, supplier or contract
- Competition / price pressure
From the administrators' statement
The Company was an on-board retailer of refreshments to train passengers on the FTPE network and its principal asset was a service agreement (the Contract) with FTPE which commenced in 2012 As part of the Contract, FTPE funded all of the Company’s trading activities and expenditure, as well as payment of a fixed monthly management fee to the Company
Following a competitive tender process in August 2016, the Company was unsuccessful in its bid to renew the Contract and the successful bidder was confirmed as RG On 25 August 2016, FTPE served the Company with notice to terminate the Contract with effect from 30 September 2016
The termination notice triggered a requirement for the Company to commence a TUPE consultation process no later than 28 days prior to 30 September 2016, in order to allow the transfer of the Company’s employees to RG on the same date, however, the Company failed to engage in this process.
Administrators' statement of proposals (2016-10-19) · Companies House register