D.P.T.(Wear)Limited (00433982): administration
- Status
- Administration ended
- Administration began
- 2014-12-19
- Incorporated
- 1947-04-26
- Location
- London
- Industry
- 14190 Manufacture of other wearing apparel and accessories n.e.c.
Why it went into administration
- Loss of a key customer, supplier or contract
- Sustained trading losses
- Property / lease costs
- Competition / price pressure
From the administrators' statement
The Company was incorporated on 26 April 1947 and its primary activity at that time was the manufacture and supply of formal wear, predominately neck ties The business grew over the years and developed a series of trading relationships with high street clothing shops and supermarkets
The Company expanded into cosmetic manufacture and supply and by 2000 the Company became the sole distributor of beauty products to all stores of a large supermarket countrywide The Company acquired a second similar distribution agreement with another large supermarket and, as a result of these two major contracts moved, to new larger premises in 2003 To further support the cosmetic side of the business, in 2006 the Company purchased the shares of Alida Health & Beauty Limited, a company supplying its own brand beauty accessories
The Company traded successfully, with turnover peaking at £67 9million in the year to June 2011 Towards the end of 2011, however, the Company lost one of its major cosmetic supply contracts, and shortly after the second major contract was also cancelled This resulted in the Company's turnover reducing from £67 Qmillion in 2011 to £23 7million in 2012
Administrators' statement of proposals (2015-02-19) · Companies House register