Designer Yarns Limited (04187433): administration
- Status
- Administration ended
- Administration began
- 2022-06-06
- Administrators
- Julian Pitts, Nicola Baker
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2001-03-26
- Location
- Saltaire
- Industry
- 46900 Non-specialised wholesale trade
Why it went into administration
- Funding withdrawn / unable to refinance
- Property / lease costs
- Brexit
- Competition / price pressure
From the administrators' statement
Designer Yarns Limited (“the Company”) was incorporated on 26" March 2001. The founding Directors’ had long histories of involvement and experience in the yarn and textile industry.
The Directors’ believed that using their knowledge and international connections in the yarn industry they could source yarn globally and retail the same in a wholesale manner. This proved to be true and the brand of the Company grew.
The Company established itself as a key figure in the yarn industry and supported the growth of a brand called “Debbie Bliss”. This partnership flourished and the Company was granted an exclusive licence to the Debbie Bliss brand which had asserted itself as the market leader in yarn and associated patterns. For the year ended June 2016 the Company turned over £5.4 million and made a net profit of £66,000.
Administrators' statement of proposals (2018-02-27) · Companies House register