Nason's(Canterbury)Limited (00871842): administration
- Status
- Administration ended
- Administration began
- 2018-09-11
- Administrators' firm
- Kreston Reeves
- Incorporated
- 1966-02-18
- Location
- Chatham Maritime
- Industry
- 47190 Other retail sale in non-specialised stores
Why it went into administration
- Weak consumer demand
- Property / lease costs
- Sustained trading losses
- Weather / natural events
From the administrators' statement
Nason’s (Canterbury) Limited was a well-known furniture and department store in Canterbury, Kent. The father of one of the current directors, Frederick Nason, opened his original retailing business in Canterbury in 1929. The business saw particular commercial success in the post-war years and expanded to include several shops throughout Canterbury in the 1950s. The Company moved its main department store to a prestigious site on the historic Canterbury High Street in 1962 from which it traded until closing on 8 September 2018.
Mr Nason incorporated the Company on 18 February 1966. As well as the High Street department store, the Company also opened and operated a furniture store from the Wincheap Industrial Estate. The two stores were supported by a warehouse facility near Wincheap from which furniture was received from suppliers and delivered to customers using either the Company's own vehicles or, if necessary, a third party.
The Company generally traded profitably, but was affected by the downturn in economic conditions following the Global Financial Crisis in 2007. This resulted in a significant reduction in consumer retail spending and a severe tightening of the housing market, with consequential reductions in consumer spending on household furniture. The trading conditions for the High Street store were also affected by the shift in the town centre for Canterbury, following the full operation of the Whitefriars Shopping Centre and the refurbishment of the Marlowe arcade.
Administrators' statement of proposals (2018-11-01) · Companies House register