Price and Company (Regency) Limited (00466121): administration
- Status
- Administration ended
- Administration began
- 2017-03-24
- Administrators
- Jonathan James Beard, John Walters
- Administrators' firm
- Begbies Traynor
- Incorporated
- 1949-03-23
- Location
- Brighton
- Industry
- 46410 Wholesale of textiles
Why it went into administration
- Competition / price pressure
- Credit insurance / supplier credit withdrawn
From the administrators' statement
The business was established in 1850 and was subsequently taken forward in the limited company in March 1949. The business originally traded as a bedding manufacturer and wholesaler, although more recently, the Company traded as a wholesaler of soft furnishings and related accessories.
Historically, the Company had enjoyed strong trading results, however over approximately the past 3 years the market for the Company's traditional wholesale products had declined and sales were becoming more focused on bespoke products, which were made to measure at the Company's premises. This element of the Company's business was particularly reliant upon a small number of suppiiers, as it was these goods that made up the majority of those types of sales.
(n February of 2017 a major supplier of the Company went into administration, which meant that the Company was no longer able to source supplies of those goods, having an immediate impact on overall sales. This, in turn had a detrimental effect on the Company's tumover, and as a result, the Company started to struggle to trade profitably.
Administrators' statement of proposals (2017-05-31) · Companies House register