Pecksniff's Bespoke Fragrances & Cosmetics Limited (03062275): administration
- Status
- Administration ended
- Administration began
- 2020-06-12
- Administrators' firm
- FRP Advisory
- Incorporated
- 1995-05-30
- Location
- Brentwood
- Industry
- 32990 Other manufacturing n.e.c.
Why it went into administration
- Funding withdrawn / unable to refinance
- Loss of a key customer, supplier or contract
- Property / lease costs
- Sustained trading losses
- Brexit
- Cyber attack / IT failure
- Competition / price pressure
From the administrators' statement
The Company was incorporated on 30 May 1995 by the current director ICS, although it did not commence trading until July 2002. For all other statutory information please -refer to Appendix A of this report.
The Company's main trading activity was that of a premier independent British fragrance and cosmetic house, manufacturing, distributing and retail of cosmetic ‘products. Whilst the Company had its own shop and on-line offering, 90%+ of turnover was realised through TK Maxx (aka T) Maxx in the USA), who have over 4000 retail outlets around the world.
It is principally funded by way of an invoice discounting facility provided by ABN and ‘four term loans totalling approx. £1.6m provided by Lloyds.
Administrators' statement of proposals (2020-08-17) · Companies House register