Chromevalue Limited (03694892): administration
- Status
- Administration ended
- Administration began
- 2016-06-27
- Administrators' firm
- FRP Advisory
- Incorporated
- 1999-01-13
- Location
- Brighton
- Industry
- 70100 Activities of head offices
Why it went into administration
- Management failings / irregularities
- Funding withdrawn / unable to refinance
- Property / lease costs
- Over-expansion / investment not recovered
- Sustained trading losses
- Competition / price pressure
From the administrators' statement
The Company was incorporated on 13 January 1999. It began trading in 2007 as a partner of T-Mobile, selling T-Mobile products and services. T-Mobile was purchased by EE which has subsequently been purchased by BT The Company operated retail stores across London (the Retail Outlets), a website and a contact centre in Coulsdon, Surrey. The Company also dealt with bulk sales of handsets and tablets which were generally 'sim-free’ (the Bulk Sale Business).
Richard Wortley and Bemal Patel are the Directors of the Company. Further details surrounding the appointment of directors and other statutory information can be seen at Appendix A The appointment of Bemal Patel as Director coincided with the business moving tts headquarters to Chessington, Surrey.
The Directors have informed us that they had a desire to grow the business both in retail sales through the stores, telesales and website sales as well as through the Bulk Sales Business. The Company’s rapid growth since 2011 is evident from the summary of trading results included at Appendix A
Administrators' statement of proposals (2016-08-19) · Companies House register