Cash Generator Limited (02258951): administration
- Status
- Administration ended
- Administration began
- 2018-06-04
- Administrators
- Anthony Collier, Ben Woolrych
- Administrators' firm
- FRP Advisory
- Formerly
- Paragon Pawnbrokers Limited; Premier Business Centres Limited
- Incorporated
- 1988-05-17
- Location
- Booth Street
- Industry
- 47190 Other retail sale in non-specialised stores
Why it went into administration
- Regulatory change or action
From the administrators' statement
The Company was incorporated in 1988 as a purchaser and reseller of second hand consumer goods through its own retail stores and from 1997 onward, a nationwide franchise network.
CGL was part of a group owned by a US-listed parent company, CNG Holdings, Inc. The business had experienced significant growth from 2008 to 2013 but moved away from regulated lending activities and traditional retail channels to an online and franchising business model.
The head office of the business was situated in Edinburgh, with the Company employing 10 staff across its three remaining corporate stores. CGFL and the wider franchise network employ over 500 members of staff.
Administrators' statement of proposals (2018-06-26) · Companies House register