Pumpkin Patch Limited (04008481): administration
- Status
- Administration ended
- Administration began
- 2012-01-19
- Administrators' firm
- Deloitte
- Incorporated
- 2000-06-06
- Location
- Leeds
- Industry
- 5242
Why it went into administration
- Sustained trading losses
From the administrators' statement
PPUK faced a downtum in trading as a result of the current difficult economic trading conditions in the UK. A small number of stores had been closed prior to the appointment of the Joint Administrators.
PPNZ engaged Deloitte on 8 November 2011 to assess its strategic options regarding PPUK This included market testing the UK business through a fast track merger and acquisition process, this is an accelerated method of marketing a business for sale as a going concern in a relatively short period of time. Whilst there was some interest in the business (although this excluded any interest in the entire store portfolio) there was no interest in a solvent transaction for the shares of PPUK
Due to the lack of interest in the shares or in the business and assets as a whole and based upon professional advice, continuing trading losses and the withdrawal of funding support from PPNZ, the Directors of the Company concluded that, given the circumstances, the Administration of the Company was unavoidable.
Administrators' statement of proposals (2012-03-07) · Companies House register