Designworks ETC. Limited (03876027): administration
- Status
- Administration ended
- Administration began
- 2021-03-29
- Administrators
- Martin Richard Buttriss, Ian William Kings
- Administrators' firm
- Begbies Traynor
- Formerly
- Focusfold Limited
- Incorporated
- 1999-11-12
- Location
- Newcastle upon Tyne
- Industry
- 32990 Other manufacturing n.e.c.
Why it went into administration
- COVID-19
- Loss of a key customer, supplier or contract
- Sustained trading losses
- Parent or group failure
- Competition / price pressure
From the administrators' statement
The Company was incorporated on 12 November 1999 and traded from leasehold premises at Unit 8, Coalville Industrial Estate, Leicestershire, manufacturing and selling paint, glue and other products to supermarkets and art and craft shops. Its major customers were 3M, Hobbycraft, Tesco and Asda.
For a number of years, the products sold by the Company were manufactured by Calder Colours Factory Limited ("Calder"), the Company's Director being the sole Director and Shareholder of this company. For many years both companies traded profitably, however in mid-March 2020 the coronavirus pandemic resulted in severe disruption to all businesses and the Company and Calder suffered a significant reduction in turnover and profit. At around this time the director opened discussions with a long-established company who also manufactured arts and crafts materials, however mainly for the educational sector (“OtherCo”). This was done with a view to moving of the production of product from Calder to OtherCo, with a view fo a potential merger of the two.
Although the product was manufactured by Calder, the machinery was owned by the Company.
Administrators' statement of proposals (2021-05-20) · Companies House register