Micro Anvika Limited (02013263): administration
- Status
- Administration ended
- Administration began
- 2012-09-17
- Incorporated
- 1986-04-23
- Location
- London
- Industry
- 7260
Why it went into administration
- Property / lease costs
- Creditor pressure / legal action
- Sustained trading losses
- Competition / price pressure
From the administrators' statement
The Company was incorporated on 23 April 1986 and commenced trading as a retailer of computing and electronics products The Company mitially traded from 53-54 Tottenham Court Road and over the next 25 years, expanded its operations to other sites across the UK. In addition, the Company also operated a telephone and website mail order service which operated from the Company's head office and warehouse at 31-32 Alfred Place, London, WCIE 7DP.
By 2007, the Company had grown to become one of the UK's largest independent retailers of computers and personal technology products with a turnover in excess of £50 mulhion The Company specialised 1n selling the latest technology from established brands such as Sony, Toshiba, HP, Samsung and Apple.
Over the last four years the Company suffered a decline in tumover due to difficult market conditions and increased competition from internet based businesses. In order to cut its operating costs, in December 2011, the Directors started negotiations to surrender and vacate all loss making sites and the head office premises in Alfred Place. As part of this process, the Company also undertook a sigmficant redundancy exercise reducing the number of staff from 140 to 50
Administrators' statement of proposals (2012-11-19) · Companies House register