S. Webb & SON (Distributors) Limited (02973502): administration
- Status
- Administration ended
- Administration began
- 2012-10-03
- Administrators' firm
- Leonard Curtis
- Incorporated
- 1994-10-05
- Location
- Manchester
- Industry
- 46760 Wholesale of other intermediate products
Why it went into administration
- Loss of a key customer, supplier or contract
- Sustained trading losses
- Competition / price pressure
From the administrators' statement
The Company was incorporated in October 1994 although the trading activites carned on date back to the 1930's The directors of the Company on incorporation were Mr Bryan Keith Webb, Mr Michael Neil Webb and Mr Frank Dubberley In June 2006, Mr Philip Jones was also appointed as a director followed by Mr Graeme Morison in July 2007 Mr Frank Dubberley later resigned as a director in March 2012
The Company traded from leasehold premises at Menai Bridge, Anglesey, North Wales The Company provided in-store display, marketing and supply of popular books, toys and stationery products The Company supplied a wide range of retailers and wholesalers The Company also provided concessions to a number of large department stores in the UK and Ireland The Company also operated a small trade counter from the leasehold premises The Company previously employed up to 150 staff pnor to the cost cutting measures introduced
The Company was funded by way of an invoice financing agreement with Bibby Financial Services Limited (“Bibby*) who hold security by way of a debenture incorporating a fixed and floating charge debenture dated 29 March 2012 Further funding was provided by a connected company, Holyhead Trading Company Limited, who also hold secunty by way of a debenture incorporating a fixed and floating charge dated 15 August 2005 Further funding was provided by directors and associated parties The Company operated a current account with The Co-operatwe Bank Plc although no credit facilities were provided
Administrators' statement of proposals (2012-11-28) · Companies House register