C.B.Brook & Co.Limited (00229755): administration
- Status
- Administration ended
- Administration began
- 2023-12-05
- Administrators
- Daryl Warwick, Michael Christian Kienlen
- Administrators' firm
- RSM
- Incorporated
- 1928-04-18
- Location
- Leeds
- Industry
- 46410 Wholesale of textiles
Why it went into administration
- Sustained trading losses
- COVID-19
- Rising costs / inflation
- Cash flow / liquidity pressure
- Loss of a key customer, supplier or contract
From the administrators' statement
The Company was founded in 1898 operating in the fabric and textiles market. On incorporation, the directors were Cyrus Barker Brook, Geoffrey Brook and Harold Bayley Brook. Cyrus Barker Brook was the Governing director. The Company remained under the control of the Brook family until 2019.
In 2019, a management buyout completed with Mr C Drury and Mr C Melia (“the management team”) buying the business from Mr Andrew Brook (“Mr A Brook”), now one of the Company's charge-holders.
Post MBO the business initially traded profitably; however, the Company began to face challenges with overseas sales being impacted by the UK leaving the EU in January 2020. The Coronavirus pandemic reduced sales by 75% and the sales never fully recovered. The Company obtained a Bounce Back Loan in September 2020 of £50k to assist with cashflow.
Administrators' statement of proposals (2024-01-22) · Companies House register