Vale Brothers Limited (03819106): administration
- Status
- Administration ended
- Administration began
- 2023-10-18
- Administrators
- Diana Frangou, Christopher Lewis
- Administrators' firm
- RSM
- Formerly
- Open Daily Limited
- Incorporated
- 1999-08-03
- Location
- Birmingham
- Industry
- 15120 Manufacture of luggage, handbags and the like, saddlery and harness
Why it went into administration
- Funding withdrawn / unable to refinance
- Loss of a key customer, supplier or contract
- Rising costs / inflation
- Supply chain disruption
- Creditor pressure / legal action
- Sustained trading losses
From the administrators' statement
Relevant extracts from the Company's filed financial statements and management accounts are summarised below:
Period ended FY21 FY22 7 months Statutory Statutory to July
account accounts | 2023-MA
Administrators' statement of proposals (2023-11-01) · Companies House register