Slbe Limited (10664034): administration
- Status
- Administration ended
- Administration began
- 2020-03-09
- Administrators
- Robert Hunter Kelly, Alexander Williams
- Administrators' firm
- EY
- Formerly
- TSP Engineering Limited
- Incorporated
- 2017-03-10
- Location
- London
- Industry
- 25620 Machining
Why it went into administration
- Loss of a key customer, supplier or contract
- Cash flow / liquidity pressure
From the administrators' statement
SLB 2020 Group Debt Facility
The Company is named as a guarantor to the wider SLB 2020 group debt structure (including £226.9m of junior secured debt owed to an SLB 2020 parent company, OSL).
The Company provided fixed and floating charge security to PNC (as security agent to the consortium of senior lenders to the SLB 2020 group) and to OSL over its business and assets to secure its obligations to the secured creditors under those agreements. PNC transferred its role as senior security agent to White Oak on 6 March 2020.
Administrators' statement of proposals (2020-03-19) · Companies House register