NSL (Automotive Components) Limited (08624636): administration
- Status
- Administration ended
- Administration began
- 2016-04-14
- Administrators
- Conrad Alan Beighton, Paul David Masters
- Administrators' firm
- Leonard Curtis
- Incorporated
- 2013-07-25
- Location
- Birmingham
- Industry
- 32990 Other manufacturing n.e.c.
Why it went into administration
- Cash flow / liquidity pressure
- Competition / price pressure
From the administrators' statement
The Company was incorporated on 25 July 2013 and commenced to trade as a remanufacturer of vehicle components, supplying several local and national distributors The products included hydraulic and manual steering racks, power steering pumps, power steering boxes, brake calipers and drive shafts
The Company latterly traded from leasehold premises at Unit 1a, New Inn Bridge Industral Estate, 998 Foleshill Road, Coventry West Midlands
In November 2015, to assist with cashflow pressures, the Company entered into an invoice discounting agreement with Inksmoor Selective Finance (‘Inksmoor') Pursuant to the terms of this agreement, Inksmoor provided funding to the Company based upon a percentage of the value of invoices raised Customer payments in respect of these invoices would then be credited to the Inksmoor account
Administrators' statement of proposals (2016-06-21) · Companies House register