# Wkscl Realisations Limited (04051293)

> Why UK company 04051293 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/04051293

- **Status:** Administration ended
- **Administration began:** 2018-05-22
- **Administrators' firm:** Williams & Partners
- **Formerly:** Sizedwell Clothing Limited
- **Incorporated:** 2000-08-11
- **Location:** London
- **Industry:** 47710 Retail sale of clothing in specialised stores

## Why it went into administration

- Competition / price pressure
- HMRC / tax arrears
- Property / lease costs
- Sustained trading losses

## From the administrators' statement

Mark Simonelli had worked in the clothing retail industry all his life; he started work in his father’s shoe shops and then on the market before starting to trade as a sole trader in 1980 selling shoes and sportswear. He started trading in menswear in the later 1980’s after having spent some time working for a wholesalers in Loughton. tn the early nineties he noticed that there was an increasing demand for larger sized clothes and decided to take advantage of the gap in the market. He attended several government sponsored business courses and started by selling the items by mail order but soon opened a small shop in the car park of a transport café. This was successful and the business grew.

The Company was incorporated in August 2000 by Mark Simonelli and Jane Simonelli but Mark Simonelli continued to trade as a sole trader until 2006 when the business was moved into the limited company and into a larger trading premises.

The initial funding for the Company came from the profits of the sole trader business, loans from the directors and an overdraft facility from the bank. Latterly the Company has been funded by a number of other loans and these loans have been personally guaranteed by the directors. These loans have been used to fund stock purchases to enable the Company to buy in bulk in an effort to try and improve its margins and also to give the Company greater control over the sizing and quality of the goods.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/04051293/filing-history/MzIwNzM5MjAwMWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/04051293

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