LEE Longland & Co. Limited (00898944): administration
- Status
- Administration ended
- Administration began
- 2020-06-19
- Administrators
- Allan Watson Graham, Matthew Ingram
- Administrators' firm
- Kroll
- Formerly
- Tior Shops Limited
- Incorporated
- 1967-02-23
- Location
- Birmingham
- Industry
- 47599 Retail of furniture, lighting, and similar (not musical instruments or scores) in specialised store
Why it went into administration
- COVID-19
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Property / lease costs
- Regulatory change or action
From the administrators' statement
The Company has historically traded profitably with reported profits of £279,577, £348,672 and £356,562 for the financial years ended 31 May 2019, 31 May 2018 and 31 May 2017 respectively.
_” Between the Company's six stores, turnover for the financial year ending 31 May 2019 was c.£16m and
was expected to exceed that level of turnover for the financial year ending 31. May 2020.
Administrators' statement of proposals (2020-08-24) · Companies House register