Republic (U.K.) Limited (04221841): administration
- Status
- Administration ended
- Administration began
- 2013-02-13
- Administrators' firm
- EY
- Formerly
- PL Company 5 Limited; Petroleum Argus (Russia) Limited; P L Company 5 Limited
- Incorporated
- 2001-05-23
- Location
- Leeds
- Industry
- 99999 Dormant Company
Why it went into administration
- Sustained trading losses
- Funding withdrawn / unable to refinance
- Over-expansion / investment not recovered
From the administrators' statement
As the table above highlights, Republic experienced rapid growth, particularly in the FYO9 and FY10, with profit before interest and tax peaking at £29 4m in the year ending 31 January 2010
The Companies were acquired by TPG during 2010 and a number of operational and senior management changes were implemented with a view to supporting further growth This included an upgrade of the IT and E-commerce systems, an expansion of the store portfolio and increased head office support functions
However, as a result of the continued challenging economic environment and changing consumer trends, Republic experienced a sharp decline m profits during the year to 29 January 2012, as a result of
Administrators' statement of proposals (2013-05-13) · Companies House register