W J White Limited (00483647): administration
- Status
- Administration ended
- Administration began
- 2017-12-18
- Administrators' firm
- Begbies Traynor
- Formerly
- W.J.White(Old Town)Limited
- Incorporated
- 1950-06-22
- Location
- Salisbury
- Industry
- 16290 Manufacture of other products of wood; manufacture of articles of cork, straw and plaiting materials
Why it went into administration
- Brexit
- Weak consumer demand
- Cash flow / liquidity pressure
- HMRC / tax arrears
- Property / lease costs
From the administrators' statement
The Company was incorporated on 22 June 1950 making traditional domestic furniture. More recently the Company has been manufacturing high-quality office and meeting room furniture sold mainly through a leased showroom in London. The Company’s manufacturing was completed from leasehold premises in Swindon. In total the Company employees 48 members of staff across both sites.
The Company experienced a steep decline in the London market following the Brexit announcement. This was initially managed via loans to the Company by the directors but the situation declined more than anticipated. Orders generally ranged from £10k-35k to £60k plus meaning production and finance costs were particularly variable in the last two years. The production factory in Swindon is essentially a fixed cost together with the very skilled craftsmen which makes the variable demand difficult to manage. Extracts from the Company's profit and loss account report the following:
Year Ended Period from Year Ended 30.9.15 01.04.2013 to 31.03.2013
Administrators' statement of proposals (2018-02-19) · Companies House register