Abbeycrest PLC (01411796): administration
- Status
- Administration ended
- Administration began
- 2012-02-06
- Administrators
- John Malcolm Titley, Andrew Poxon
- Administrators' firm
- Leonard Curtis
- Formerly
- Abbeycrest Manufacturing Jewellers Limited; Abbey Crest (Wholesale Jewellers) Limited
- Incorporated
- 1979-01-26
- Location
- Bury
- Industry
- 7415
Why it went into administration
- Sustained trading losses
- Funding withdrawn / unable to refinance
- HMRC / tax arrears
- Rising costs / inflation
- Supply chain disruption
- Competition / price pressure
From the administrators' statement
The Company was incorporated in January 1979 and !s the parent Company of the Abbycrest Group ("the Group") The Group had two subsidianes that it placed significant emphasis upon, Brown and Newirth Limited (“B&N") and the manufactunng operation in Thailand, Abbeycrest (Thailand) Limited ("ATL")
The Group trades as manufacturers and worldwide distributors of jewellery Across the Group tt 1s able to operate in the areas of design, sourcing, manufactunng, sales and supply chain fulfilment The Group specialises in gold, gem set and silver jewellery The Group manufactures its own brands of jewellery and operates a niche wedding nng and engagement nng design, manufacture and sales service through the Company which is a wholly owned subsidiary
ATL is based in Thailand and employs c600 staff ATL specialises in producing high volume, low margin product
Administrators' statement of proposals (2012-04-04) · Companies House register