Fri, 07 Sep 2012 | ADMINISTRATION
Rail Tech, an established business headquartered in Suffolk and specialising in railway and signal engineering, has been forced into administration.
The business has appointed Simon Robert Thomas of Moorfields Corporate Recovery Llp to handle the situation but it is unclear at the moment exactly what forced the company into administration.
Looking back over its accounts, Rail Tech saw a substantial decline in turnover between 2010 and 2011 (the most recent year for which accounts are available). In the 12 months to 31 March 2010, the business turned over £7.08 million. This dropped to just £4.62 million in the three months to 31 March 2011.
Unfortunately, other forces meant that the firm was left with a negative net worth of -£56,44 and a working capital of -£121,547. Its total assets of £1,384,094 could be of some use to the administrators looking to pay off creditors, however.
The Business Sale Report will update this story as more information regarding the administration becomes available.
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.