BCR Global Textiles Limited (01884925): administration
- Status
- Administration ended
- Administration began
- 2015-12-04
- Administrators
- Matthew Douglas Hardy, Andrew Turpin
- Administrators' firm
- Quantuma
- Formerly
- Black Country RAG and Wiper Co. Limited
- Incorporated
- 1985-02-11
- Location
- Birmingham
- Industry
- 13100 Preparation and spinning of textile fibres
Why it went into administration
- Rising costs / inflation
- Cash flow / liquidity pressure
- Competition / price pressure
From the administrators' statement
The Company, which was based in Oldbury, had been an early pioneer of the textile bank and collection system and operated clothing banks around the UK, with the consent of Local Authorities and Charittes The business had grown steadily over a number of years, with annual turnover ranging between £4 7m to £7m However, turnover for the period to October 2015 (£2 1m) indicated that March 2016 year end results would not reach those of March 2015
Approximately three years ago, the Company suffered a devastating fire at tts premises which resulted in uninsured losses of around £750,000 from which it struggled to recover Since these difficulties, the Company has seen significant competition in the industry which has been heightened by increased costs of raw material and a falling quality, impacting on profit margins
Recent times have also seen mounting global instability, affecting the Company’s international customer base, which has put increasing pressure on the Company. and further adversely affecting margins and turnover as this market represented approximately 75% of its turnover
Administrators' statement of proposals (2016-02-02) · Companies House register