Appointment of Administrators to QM Systems
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PipeHawk announces that, further to the Group's announcement on 12 July 2024, the Group has appointed RSM UK Restructuring Advisory LLP as administrators to QM Systems Limited ("QM"), a subsidiary of PipeHawk. Further announcements will be made in relation to the administration of QM as appropriate.
Information on QM Systems Limited
QM is a turnkey provider of automation, test and manufacturing systems to all industries, also known as a machine builder and also offers contract manufacturing services. For the financial year ended 30 June 2023, QM generated approximately £4.2 million in revenues (representing approximately 65% of the Group's revenue for that year) and reported a loss after tax of approximately £970k. As at 30 June 2023, QM had total assets of approximately £4.7 million.
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