Dell Bidco Limited (08746949): administration
- Status
- Administration ended
- Administration began
- 2015-08-13
- Administrators
- William Kenneth Dawson, Daniel Francis Butters
- Administrators' firm
- Deloitte
- Incorporated
- 2013-10-24
- Location
- Birmingham
- Industry
- 70100 Activities of head offices
Why it went into administration
- Funding withdrawn / unable to refinance
- Parent or group failure
- Weather / natural events
From the administrators' statement
The Group experienced trading difficulties in iate 2014 and earty 2015 whan certain product quatty wWeues were identified by a number of customers loading to warranty and rectification claims Waricus Management changes were made at board level and initatiwea implemented to address these However In Alay 2015 the Group identified a funding requirement expected tater in 2015 Management was unable to secure adaitiona! dabt funding to accdress this and the Group 3 majority sharenoider was unwilling to invest further funding into on nsolvant Group structure
Tne Group was highly leveraged, and the Company was insolvent on a balance sheet basis (the value of its iainiiities: exceeded the valve of its assets)
In June 2015 management instructed Detowtte LLP (Deloitte) to undertake a process te identify an wvestor or purchaser for the business (the M&A process")
Administrators' statement of proposals (2015-09-11) · Companies House register