GSR Engineering Systems Limited (08218299): administration
- Status
- Administration ended
- Administration began
- 2018-12-03
- Incorporated
- 2012-09-18
- Location
- Wolverhampton
- Industry
- 25620 Machining
Why it went into administration
- HMRC / tax arrears
- Loss of a key customer, supplier or contract
- Sustained trading losses
From the administrators' statement
The Company was established by Andrew Morris as sole director and shareholder in September 2012 to provide process engineering solutions to the food and drink process and manufacturing industry. The Company was formed following the breakup of a former company to combine both engineering and electrical services to customers. The Company initially invested and subsequently maintained that investment year on year in high quality machinery and in its skilled work force to manufacture a diverse range of specialised services bespoke to customer requirements along with quality products out of its trading premises at Landywood Enterprise Park, Holly Lane, Great Wyrley, Staffordshire.
The Company didn’t have any secured bank borrowings or lending to fund its working capital requirements. HSBC Bank Pic provided an unsecured overdraft facility of £29,000 which was not utilised at the date of Administration.
A summary of the Company's recent trading performance is shown below.
Administrators' statement of proposals (2019-02-07) · Companies House register