Phosters (FM) Limited (08451685): administration
- Status
- In administration
- Administration began
- 2026-06-30
- Administrators
- Robert Christopher Keyes, David Ronald Taylor
- Administrators' firm
- KRE Corporate Recovery
- Incorporated
- 2013-03-19
- Location
- Reading
- Industry
- 81100 Combined facilities support activities
Why it went into administration
- Sustained trading losses
From the administrators' statement
The circumstances leading to the appointment of the administrators are detailed in the SIP 16 report attached at Appendix 8 of this report. However brief details are set out below.
The Company's Managing Director had indicated an intention to step down from his role. Having regard to the sustained decline in trading performance experienced by the Company since 2021, the Board of Directors considered the strategic options available and having been introduced to a prospective interested party, concluded that a sale of the business and assets by way of a prepackaged administration offered the most effective means of preserving value for creditors, protecting the interests of employees and maintaining continuity of service to clients. Notwithstanding these difficulties, the Company retained an established client base, a recognised trading name and an operational infrastructure considered to represent a viable platform for a new owner.
Creditors should note that it was the interested party who introduced KRE Corporate recovery limited “KRE" to the company. KRE had no prior involvement with the company or its directors. Notwithstanding the fact that the interested party withdrew their interest, the directors decided to retain the services of KRE to complete the sales process.
Administrators' statement of proposals (2026-08-20) · Companies House register