Peter Jones (China) Limited (00783518): administration
- Status
- Administration ended
- Administration began
- 2020-07-08
- Administrators
- Howard Smith, James Ronald Lumb
- Administrators' firm
- KPMG
- Incorporated
- 1963-12-05
- Location
- Leeds
- Industry
- 47789 Other retail sale of new goods in specialised stores (not commercial art galleries and opticians)
Why it went into administration
- COVID-19
- Cash flow / liquidity pressure
- Sustained trading losses
From the administrators' statement
The Company was incorporated on 5 December 1963 and operated as a retailer of gift and homewares based in Wakefield, West Yorkshire. The Company operated from ten leasehold premises across the North of England, in addition to a leasehold warehouse located in Wakefield.
The Company had suffered from weak trading performance during late 2019, a situation which was exacerbated by the impacts of the COVID-19 pandemic in February and March 2020. As a result of COVID-19, following advice issued by the UK Government, the Company took the decision to temporarily close all its retail stores during March 2020, with the majority of its staff being placed on furlough leave.
As the UK lockdown continued, the Company came under increasing pressure from its creditors regarding its outstanding debts. As a result of being unable to trade, the Company was under increasing cash flow pressure which ultimately led to the Directors resolving to place the Company into administration. The Company’s stores were not re-opened following the UK entering into a period of lockdown.
Administrators' statement of proposals (2020-09-15) · Companies House register