Bulkswap Limited (02127977): administration
- Status
- Administration ended
- Administration began
- 2014-11-25
- Administrators
- Rosalind Mary Hilton
- Incorporated
- 1987-05-05
- Location
- Blackpool
- Industry
- 47799 Retail sale of other second-hand goods in stores (not incl. antiques)
Why it went into administration
- Sustained trading losses
From the administrators' statement
The Company was incorporated on 5 May 1987 by the current directors’ Father. The director, Alastair Brown was appointed on 1 April 2001.
The Company commenced trading in May 1987 and its principal activity was that of a pawnbrokers. The Company operated from leasehold premises at 7 The Crescent, Carlisle, CA1 1QW.
The Company has historcally traded well. However, with the increase in demand for pay day lenders rather than traditional pawn brokenng this has an impact on the turnover of the business over the last four years. Furthermore, with faster banking services and in particular internet banking the business has seen a decline in its cheque cashing service as fewer people are paid by cheque. Turnover for cheque cashing has reduced over the last three years from around £15,000 per week to just £800 per week.
Administrators' statement of proposals (2014-12-03) · Companies House register