DMP Metals Ltd (11303150): administration
- Status
- Administration ended
- Administration began
- 2022-12-20
- Administrators' firm
- Quantuma
- Incorporated
- 2018-04-11
- Location
- Sale
- Industry
- 24450 Other non-ferrous metal production
Why it went into administration
- Funding withdrawn / unable to refinance
- Loss of a key customer, supplier or contract
- Competition / price pressure
From the administrators' statement
2.2 Paul Dumpleton (‘PD’) was initially the sole Director with a 100% shareholding in the Company. PD had worked for numerous major waste disposal companies and saw an opportunity to generate significant revenues from low-quality materials.
2.3 Jonathan Light (‘JL’) was appointed joint Director in March 2019.
2.4 PD applied for Enterprise Investment Scheme status, which was granted. The Directors then approached a fund manager, Earthworm Limited (‘Earthworm’) who agreed to fund the project through the developmental stages, right through to full production.
Administrators' statement of proposals (2023-01-25) · Companies House register