Simply Workwear Limited (04426007): administration
- Status
- Administration ended
- Administration began
- 2012-09-18
- Administrators
- Dylan Quail
- Administrators' firm
- John Laithwaite Partnership
- Incorporated
- 2002-04-26
- Location
- Wilmslow
- Industry
- 47789 Other retail sale of new goods in specialised stores (not commercial art galleries and opticians)
Why it went into administration
- HMRC / tax arrears
- Weak consumer demand
- Rising costs / inflation
- Funding withdrawn / unable to refinance
- Loss of a key customer, supplier or contract
From the administrators' statement
21 The Company was incorporated on 26 April 2002, as a retatler of quality work wear and personal protective equipment (PPE) The sole Director of the Company is Mr Ahmed Khan
22 In 2007, the Company moved to larger trading premises as part of a planned expansion The new trading premises required an extensive fit out including redecoration, rewiring, new heating, new floor coverings, installation of alarm and security systems, signage and shop fittings In addition, a new EPOS system, touch screen tills and back office IT system were installed to improve efficiency and stock control No industry standard software was available at that time and a bespoke programme was written specifically for the Company Two additional full tme members of staff were recruited, and stock levels were increased to fill the larger premises Consequently overheads increased
23 In late 2007, one of the Company’s largest customers announced a change in its procurement system From April 2008, all procurement was undertaken by another company, who had promised considerable savings This resulted in a significant downturn in the Company’s sales The global economic downturn also resulted in a dip in consumer
Administrators' statement of proposals (2012-11-12) · Companies House register