Rsto Limited (SC221596): administration
- Status
- Administration ended
- Administration began
- 2014-12-11
- Administrators' firm
- BDO
- Formerly
- Ready Steady Trade On-Line Limited; Ready Steady On-Line Limited
- Incorporated
- 2001-07-26
- Location
- Glasgow
- Industry
- 62020 Information technology consultancy activities
Why it went into administration
- Loss of a key customer, supplier or contract
- HMRC / tax arrears
From the administrators' statement
The Company was incorporated on 26 July 2001. The Company operated from the head office at 99 Giles Street, Edinburgh.
The Company’s principal activity was Business Process Outsourcing.
The Company provided eCommerce and online solutions to SMEs, with the majority of its business focused on selling and building websites as well as providing in-life support to customers. The Company incurred heavy losses in 2012 and 2013 while investing in R&D and attempting to negotiate more profitable terms with its major customer, which represented 85% of the Company’s revenue. These losses were supported by the Company’s sharehotders and commercial discussions with existing and potential partners indicated that this strategy was correct for the market.
Administrators' statement of proposals (2015-02-12) · Companies House register