UK Industrial Supplies Limited (02283523): administration
- Status
- Administration ended
- Administration began
- 2018-10-30
- Incorporated
- 1988-08-03
- Location
- Sutton Coldfield
- Industry
- 46420 Wholesale of clothing and footwear
Why it went into administration
- Rising costs / inflation
- Funding withdrawn / unable to refinance
- Loss-making contracts / project overruns
- Sustained trading losses
From the administrators' statement
UK Industrial Supplies Limited was incorporated on 3 August 1988 to carry on the business of Distributing Workwear, Personal Protection Equipment, Chemicals, Workplace Supplies and Equipment with the objective of becoming a one-stop supplier for PPE safety and industrial supplies.
The company prospered and turnover developed to £4.5M per annum. In 2014 the company was bought by a consortium headed by Matthew Dodson, a venture capitalist, together with a number of others.
The company then however suffered a significant loss of £1.2M but the sale proceeded.
Administrators' statement of proposals (2019-01-07) · Companies House register