Collection Realisations Limited (04481224): administration
- Status
- Administration ended
- Administration began
- 2020-02-04
- Administrators
- William James Wright, Howard Smith
- Administrators' firm
- KPMG
- Formerly
- Pure Collection Limited
- Incorporated
- 2002-07-09
- Location
- Leeds
- Industry
- 47910 Retail sale via mail order houses or via Internet
Why it went into administration
- Sustained trading losses
- Loss of key people
- Competition / price pressure
- HMRC / tax arrears
From the administrators' statement
The Company was incorporated on 9 July 2002 and sold cashmere products and knitwear to customers in the UK, EU and US, through its eight UK stores as well as online and through catalogues. The Company’s physical stores all closed in the period immediately prior to the Administrators’ appointment. The Company’s head office is Jocated in Harrogate, North Yorkshire, and its distribution centre is located in Knaresborough, North Yorkshire.
Prior to the administration, the Company had 200 employees. On our appointment, 78 employees were made redundant. This included all store staff and a number of employees based at the head office. The remaining 122 employees were retained to assist the Joint Administrators in their duties, including continued trading through the catalogues and online channels as well as concession stores, while a purchaser is sought for the business. The Joint Administrators have regularly reviewed resource requirements for ongoing trade, and as at 13 March 2020 nine further redundancies have been made and five other employees have left the business.
The Company is majority owned by All About Cashmere Limited, a holding company which owns the Pure Collection brand and Intellectual Property associated with the trading business. Pure Collection (Retail) Limited is a dormant subsidiary of the Company. AAC and PCR are not subject to insolvency proceedings.
Administrators' statement of proposals (2020-04-15) · Companies House register