W F Realisations Limited (01174678): administration
- Status
- Administration ended
- Administration began
- 2012-11-27
- Administrators
- Thomas Andrew Jack, Samuel James Woodward
- Administrators' firm
- EY
- Formerly
- Woodfit Limited
- Incorporated
- 1974-06-20
- Location
- Manchester
- Industry
- 46499 Wholesale of household goods (other than musical instruments) n.e.c
Why it went into administration
- Sustained trading losses
- Weak consumer demand
- Funding withdrawn / unable to refinance
- Competition / price pressure
From the administrators' statement
The Company suffered from a decline in demand since 2008 primarily due to the recession
and resulting adverse impact on the housing market, exacerbated by increased competition Turnover decreased by 34% in the last four years, to £1 9 million in the year ending 30 June 2012 The Company has been loss making for the last two years
In June 2011 the directors assessed the Company's financial position and tt was apparent that overheads were too high to be supported by the declining sales The Directors made efforts to stabilise the business by reducing overheads during 2011 and 2012, however between July and November 2012 trading fell short of the target, which had a significant Impact on cash
Administrators' statement of proposals (2013-01-21) · Companies House register