# Thierry's Wine Services Limited (03711806)

> Why UK company 03711806 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/03711806

- **Status:** Administration ended
- **Administration began:** 2012-12-07
- **Formerly:** T & J Holdings Limited; Strongfibre Limited
- **Incorporated:** 1999-02-11
- **Location:** Orpington
- **Industry:** 46170 Agents involved in the sale of food, beverages and tobacco

## Why it went into administration

- Creditor pressure / legal action
- Competition / price pressure
- Funding withdrawn / unable to refinance
- Property / lease costs
- Credit insurance / supplier credit withdrawn
- Parent or group failure

## From the administrators' statement

The Company provided the wholesale distribution of wine, and traded from premises at Horsefair House, The Horsefair, Romsey, Hampshire SO51 8EZ The Company received a significant amount of tts turnover from trading with a smail number of customers, including Tesco, Marks & Spencers

and Majestic Off Licences

In February 2012 Tesco terminated their contract with the Company This was due to the fact that one key product that Tesco took was Nicolas Feuilatte Champagne When the annual projections were agreed with Tesco, it was agreed that Tesco would run the product at 80% on promotional price and 20% at the RRP in reality Tesco kept the product on offer for 98% of the time and only sold at RRP for 2% of the time As a consequence, they did not make the projected margin and required the Company to pay a margin support of £1 7m The Company refused to do so At the time, the Tesco contract represented 33% of the Company's gross margin The resultant reduction In profitability led to the bank reducing the Company’s facility

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/03711806/filing-history/MzA3MjUwMDcxNmFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/03711806

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.