SLS Realisations Limited (SC759935): administration
- Status
- Administration ended
- Administration began
- 2024-11-08
- Administrators
- Michelle Marie Elliot, Callum Angus Carmichael
- Administrators' firm
- FRP Advisory
- Formerly
- Spirit Label Solutions Limited; Mulvenny Holdings Limited
- Incorporated
- 2023-02-23
- Location
- Glasgow
- Industry
- 18121 Manufacture of printed labels
Why it went into administration
- Funding withdrawn / unable to refinance
- Weak consumer demand
- Loss of a key customer, supplier or contract
From the administrators' statement
Spirit Label Solutions Limited (‘the Company”) was incorporated on 23 February 2023 and operated as a spirits labelling manufacturer servicing primarily the Scottish Whisky Industry. The business commenced trading in January 2024, following a multi-million pound investment into the fixed assets and facilities.
The Company's registered office and trading address is located at leasehold premises at Unit G3, Westway Business Park, Renfrew, Scotland, PA4 8DJ and it had 18 employees (including the six current directors).
The Company was primarily funded via a significant director’s loan provided by the CEO, Alex Mulvenny, in the sum of £1.5m. This loan facilitated the investment into the operating facility and working capital requirements. The Company has also obtained loan funding in the sum of £350k from FSE, part of the Investment Fund for Scotland together with grant funding from Scottish Enterprise.
Administrators' statement of proposals (2024-11-15) · Companies House register