IAS Realisations Limited (08013831): administration
- Status
- Administration ended
- Administration began
- 2015-03-26
- Administrators
- Richard James Philpott, William James Wright
- Administrators' firm
- KPMG
- Formerly
- Impetus Automotive Solutions Limited; Ingleby (1886) Limited
- Incorporated
- 2012-03-30
- Location
- Birmingham
- Industry
- 70100 Activities of head offices
Why it went into administration
- Competition / price pressure
- Funding withdrawn / unable to refinance
- Loss of a key customer, supplier or contract
- Sustained trading losses
From the administrators' statement
As previously detailed, the Company, along with PHIH and PHIG, are holding companies for IAL, which was the only trading entity within the Group The Group’s majority shareholder is Livingbridge, who effectively owned 49 77% of the Group, with members of the current and former management also having a stake in the business
The Group, which was based on Edgehill Drive, Warwickshire, provided consultancy services to the automotive industry It worked with vehicle manufacturers to assist them, and dealer networks, increase sales of parts and accessories As at the date of our appointment, the Group had approximately 200 members of staff, however all these were employed directly by the Trading Company and therefore unaffected by the administration
3.2 Funding and financial position of the Company
Administrators' statement of proposals (2015-05-07) · Companies House register