In2Europe Ltd (04557017): administration
- Status
- Administration ended
- Administration began
- 2014-12-19
- Administrators
- Michael Stephen Elliot Solomons, Andrew James Pear
- Administrators' firm
- BM Advisory
- Incorporated
- 2002-10-08
- Location
- London
- Industry
- 47910 Retail sale via mail order houses or via Internet
Why it went into administration
- Sustained trading losses
From the administrators' statement
The Company was incorporated on 8 October 2002 and operated as an online distributor of golf equipment and clothing. The Company did not trade from any retail or high street premises but leased a small warehouse at Unit 12, Camberley Business Centre, Camberley GU15 3DP to store its stock
At its peak in 2007, the Company’s turnover was circa £1 9million; however, in the most recent unaudited financial statements for the pertod ended 30 June 2013, turnover had declined to arca £1.4million, representing a significant decrease of 26% from 2007. The reasons cited for the decline in turnover were both economical and operational, being the global recession in 2008 which ultimately impacted on private consumers’ disposable income levels, coupled with an overall slowdown in the economy. In addition, a number of technical difficulties were encountered with the online sales platform which the director advised was operating at a sub-standard level
Summary of financial history
Administrators' statement of proposals (2015-02-13) · Companies House register