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PML Flightlink in administration

Discussion in 'Electric Vehicles' started by dpeilow, Jan 8, 2009.

  1. dpeilow

    dpeilow Moderator

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    http://www.pmlflightlink.com/about.html

     
  2. doug

    doug Administrator / Head Moderator

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    Is that UK speak for bankruptcy? That's a real shame.
     
  3. dpeilow

    dpeilow Moderator

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    #3 dpeilow, Jan 8, 2009
    Last edited: Jan 9, 2009
    Basically yes. They will be run by a firm of accountants who will try to find a buyer. If no one comes forward (and the time scales for this are normally a matter of a few weeks), the company will be broken up and assets sold off to try to pay back investors and creditors.

    EDIT: This probably explains it better - http://en.wikipedia.org/wiki/Administration_(insolvency)



    It's a little surprising because they already had well established product lines in the aviation market, but I guess everything is being hit right now.
     
  4. TEG

    TEG TMC Moderator

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    Michelin strikes key 'e-wheel' deal ? Register Hardware

     
  5. dpeilow

    dpeilow Moderator

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    That guy never came back with any more info about Electric Motor Works Limited. I can probably find out something about them if I pay the £1 fee on the Companies House website, but I was hoping some other news might turn up first.
     

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