Thu, 05 Jul 2012 | ADMINISTRATION
Pele Productions has entered administration due to its mounting debts and struggles to turn a profit.
It is now in the position where it owes over £150,000 to its creditors, according to documents filed at Companies House. The pantomime production group cited its move into musicals and bad weather as major contributors to its financial problems as its turnover was reduced “substantially” by its decision to programme musicals rather than pantomimes over the 2009 Christmas period.
The administrator's report, as seen by The Stage, noted: “In an effort to increase turnover and profit, the company decided to branch out into musical theatre and gain work throughout the year rather than just the Christmas season and it presented A Chorus Line. Unfortunately this made losses of around £40,000 at the box office, putting the company under severe pressure.
“Another musical for the Lowry, Peter Pan in 2010, would have stabilised the company. Although the show did well it did not achieve its full potential due to extreme bad weather at that time.”
The administrators have stopped trading at Pele Productions. They will now need to decide what to do about the company's debts, which include £27,000 owed in VAT to HM Revenue & Customs, almost £20,000 to Swash and around £44,000 to publisher Samuel French.
Operating across North Yorkshire, the company has two divisions, one that provides IT infrastructure and one offering renewable energy solutions, including solar PV systems and electric vehicle charging points.
The group specialises in supplying and installing UPVC windows, doors and conservatories in a wide array of styles. Bespoke bathroom panelling and high-quality guttering products are also provided by the two companies.
The company is a well-regarded specialist provider of hygienic wall, floor, and ceiling cladding systems. To complement its core supply of PVC cladding, the business offers hot welded joints to prevent the build-up of bacteria and can supply stainles...
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.