Rodan Process Solutions Limited (11104932): administration
- Status
- Administration ended
- Administration began
- 2020-02-25
- Administrators' firm
- FRP Advisory
- Formerly
- WTE Solutions Limited
- Incorporated
- 2017-12-11
- Location
- Wolston
- Industry
- 74901 Environmental consulting activities
Why it went into administration
- Rising costs / inflation
- Funding withdrawn / unable to refinance
- Regulatory change or action
From the administrators' statement
Creditors should note that, unless otherwise stated, this section of my proposals has been prepared based on information provided to me by both the directors of the Company and the qualifying floating charge holder and not from my personal knowledge as Joint Administrator. Creditors should also be made aware that, as part of the sale and purchase agreement ("SPA"), it is the intention of the Purchaser (please see later section for more details) to complete the contract that the Company was unable to manage to fruition. As a result, much of the financial and other information that would normally be disclosed to creditors cannot be provided for reasons of commercial confidentiality. To do so, the Joint Administrators would be in breach of the SPA and would also adversely affect the Purchaser who is seeking to complete the contract.
The Company was incorporated on 11 December 2017 as WTE Solutions Limited by Elke Thurlings as both Company Secretary and the sole director. The Company's registered office on incorporation was located at 2 Endsleigh Gardens, Leigh, WN7 1LR. The Company was intended to be a special purpose vehicle for a general waste to energy project. Resolutions dated 3 April 2018 to change the Company’s name to Rodan Process Solutions Limited were filed at Companies House on 6 April 2018. On 3 April 2018, the Company’s registered office was also changed to Suite 3, Waterside Business Centre, Canal Street, Leigh, WN7 4D8. On 1 December 2018, John Harold Edwards was appointed as a director of the Company.
The Company traded virtually in that the directors (and the employee later taken on) all worked from home. As a result, no premises lease was signed in the Company’s name and any correspondence would have been sent to the Company's registered office. The directors have homes in both the UK and Germany which meant they spent time commuting between their homes, the project site and various suppliers’ premises as and when required.
Administrators' statement of proposals (2020-05-22) · Companies House register