TSL Technical Ltd
A four-year-old Glasgow engineering consultancy that grew on contract wins and ran out of road in spring 2026. The filings signalled strain eighteen months before the liquidator arrived.
What the data was telling us
Readings from The Gazette and Companies House, in the firm's final two years.
Lessons behind the liquidation
Contract wins added revenue faster than the board added oversight. By the time distress showed, two of three directors had already left, thinning exactly the scrutiny a young firm needs most.
Security taken early reshapes the outcome for unsecured creditors. Across the corpus, a debenture registered 18 months before collapse is one of the louder signals, worth reading as a date, not just a document.
The two-month filing delay coincided with a thinning order book. Filing discipline is the cheapest early-warning system a company has; when it slips, it usually slips for a reason.
Engineering and technical consultancies that registered a floating charge within 30 months of incorporation and then filed accounts late entered liquidation within 18 months in 61% of comparable cases.
Every charge, every filing, every appointment, in one dossier.
Director histories across related entities, the full debenture instrument, creditor estimates, and the practitioner's record on comparable cases.