18.11.2025

Reactive liquidation

UK rental company Reactive Rentals filed for liquidation just before midnight yesterday.

The company directors, Steve Skeates and Gary Sprecht, instructed FTS Recovery at the end of September to assist them in placing the company into Creditors’ Voluntary Liquidation. That has now gone ahead.

It seems that unsecured creditors are owed almost £2.4 million, many of them other rental companies, while secured creditors are owed just over £100,000, leaving the deficiency at £2,482,788.04. The deadline for filing the latest accounts - for the year to the end of 2024 - was September 30th, but as of yesterday, they had still not been filed. The annual Confirmation Statement was due on October 11th, but is still outstanding according to Companies House.

Reactive was incorporated in September 2022 and seemed to get off to a decent start, then, according to the directors' statement in the SIP6 ‘Financial Information to Creditors and Members of Reactive Rentals Ltd’ originally dated November 12th, things began to deteriorate as follows:

“As at the end of Q1 (2024), the business became under more financial pressure. Q1 had still been a satisfactory performance, but costs were increasing and sales had declined over the 1st quarter. A large part of the fleet was underutilised, and the machines were not generating enough revenue to cover costs, let alone generate enough revenue to contribute to the running of the business. The directors were confident of new markets and had secured equipment to the fleet, which would improve margins.”

“At the end of Q2, the sales team had failed to deliver, and revenue lines were far below the required run rate. Further sales staff were appointed, but were unable to make any viable gains, and the monthly forecast continued to diminish. The company fell behind on its HMRC commitments, which triggered further restrictions to the finance facility and saw an immediate loss of any available cash, which meant that the already-aggressive creditors sought more severe action. By August 2025, the company attempted a cash injection via a third party buying the majority of the business. This fell through and left the company with no option but to proceed with liquidation as the continued operation of the business was no longer viable.”

We have reached out to the directors and FTS Recovery a number of times requesting a comment, but had not received a reply, until this morning when FTS confirmed that it had gone ahead, but it would not be commenting. The SIP6 statement has been sent to all creditors.