99P Stores Limited (04058808): administration
- Status
- Administration ended
- Administration began
- 2017-03-22
- Administrators
- Ryan Kevin Grant, Catherine Williamson, Peter Mark Saville
- Administrators' firm
- AlixPartners
- Formerly
- Whistlestop Discount Stores Limited; 99P Stores Limited; Whistlestop Discount Stores Limited
- Incorporated
- 2000-08-24
- Location
- Manchester
- Industry
- 74990 Non-trading company
Why it went into administration
- Funding withdrawn / unable to refinance
- Sustained trading losses
- Competition / price pressure
From the administrators' statement
The Company was incorporated on 24 August 2000. Its principal trading activity was discount retailing from leasehold premises across the United Kingdom.
In February 2015, Poundland reached an agreement with the Company’s shareholders to purchase the Company. The proposed sale was investigated by the Competitions and Markets Authority (CMA) on the basis the transaction may have weakened the levels of competition in the discount retail market. The transaction completed in September 2015 following approval from the CMA.
The Company had four subsidiaries at the date of acqusition by Poundland. They are:
Administrators' statement of proposals (2017-05-26) · Companies House register