Shop-Equip Limited (02372059): administration
- Status
- Administration ended
- Administration began
- 2018-11-30
- Administrators' firm
- KPMG
- Formerly
- KT 528 Limited
- Incorporated
- 1989-04-14
- Location
- Leeds
- Industry
- 46900 Non-specialised wholesale trade
Why it went into administration
- Cash flow / liquidity pressure
- Sustained trading losses
- Brexit
- Competition / price pressure
From the administrators' statement
Shop-Equip Limited was incorporated on 14 April 1989 and operated as a largely web-based manufacturer and supplier of shop-fitting and catering equipment, operating from freehold premises in Langwith, Mansfield.
Due to a decline in turnover as a result of increasing competition from internet based competitors and uncertainty surrounding Brexit, the Company suffered from increasing cash flow pressures. This ultimately resulted in the directors of the Company resolving to place the Company into Administration with Howard Smith and Chris Pole being appointed as Joint Administrators.
The Company ceased to trade immediately upon the appointment of the Joint Administrators. The Company employed 14 members of staff, who were made redundant shortly following our appointment.
Administrators' statement of proposals (2019-02-07) · Companies House register