SLBE Limited (formerly TSP Engineering Limited) (in Administration)
On 9 March 2020 the Company entered Administration Alex Paul Williams and Robert Hunter Kelly were appointed as Joint Administrators. The appointment was made by the qualifying floating charge holder under the provisions of paragraph 14 of Schedule B1 to the Insolvency Act 1986.
Shortly after the appointment, the Company was renamed from TSP Engineering Limited to SLBE Limited. At the same time, the purchaser of the Company’s business and assets was renamed from Jingye Steel (UK) Engineering Limited to TSP Engineering Limited.
Sale of the business
On 9 March 2020 we completed a sale of the Company’s business and assets to Jingye Steel (UK) Engineering Limited (“the Purchaser”) for a total consideration of £3 million.
As part of the transaction, the Purchaser undertook to discharge all third-party trading liabilities (other than intercompany balances due to the Company’s parent and its affiliates and secured amounts owing to financial creditors) and TUPE transfer all employees with no redundancies, no changes to their terms & conditions and no impact on pension contributions.
In accordance with Statement of Insolvency Practice 16, a detailed explanation of the transaction is set out in the letters to creditors in the Administration documents below.
Future communication
Further information and documents regarding the Administration will be uploaded to this website.
Queries specifically relating to the Administration should be directed to slbe.administration@uk.ey.com
