PSL Housing Limited (10455136): administration
- Status
- Administration ended
- Administration began
- 2020-03-13
- Administrators
- Gareth Prince, Kris Anthony Wigfield
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2016-11-01
- Location
- Sheffield
- Industry
- 43290 Other construction installation
Why it went into administration
- Cash flow / liquidity pressure
- Creditor pressure / legal action
From the administrators' statement
The Company was incorporated in 2016 and traded as a Scaffolding Company based in Wolverhampton, providing the supply, erection, hire and dismantling of scaffolding on residential and commercial housing developments. The Company traded from leased premises at 89 Spring Road, Ettingshall, Wolverhampton, WV4 6JT and Stuart Pedley (‘SP’) and Robert Humphries (‘RH’) were the directors and equal shareholders upon incorporation. On 1 September 2017 SP resigned as a director leaving RH as the sole director. On 5 July 2018 the Company acquired the business and assets of Pediey Scaffolding Limited (In Administration) (Company number 03998159) (‘Pedley Scaffolding’), via a pre-packaged administration sale. Pedley Scaffolding was an associated Company by way of common directors with SP and RH both holding directorships in Pedley Scaffolding at the date of completion.
On 2 August 2018 RH resigned as a director of the Company and Carl Warrilow (‘CW) was appointed as the sole director on the same date. SP and RH both continued to be involved with the Company and each continued to be 50% shareholders.
The Company was financed through a number of business loans, a factoring agreement with Easy Invoice Finance Limited, which is company owned by Regency Factors PLC, (‘EIF’) and via a purchase finance agreement and a stock finance facility provided by Cavendish Investments (Manchester) Limited (‘Cavendish’).
Administrators' statement of proposals (2020-05-07) · Companies House register