# Oldco (PSE) Limited (04683733)

> Why UK company 04683733 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/04683733

- **Status:** Administration ended
- **Administration began:** 2012-08-15
- **Formerly:** Prince Sports Europe Limited; Broomco (3147) Limited
- **Incorporated:** 2003-03-03
- **Location:** Uxbridge
- **Industry:** 46900 Non-specialised wholesale trade

## Why it went into administration

- Competition / price pressure

## From the administrators' statement

Prince 1s one of the leading brands in racket sport equipment and apparel across the globe and has become synonymous with the highest standards tn racket sports The brand started with Prince Sports Inc in US and, in 2003, PSE was incorporated as a subsidiary of Prince Inc which was the operating business which covered Europe, Africa and the Middle East

The Global economic downturn and increased competition within the sector resulted in a drop in global sales and in May 2012, Prince Inc filed for Chapter 11 protection in the US

Through the chapter 11 process, the intellectual property rights of Prince Inc were acquired by Authentic Brands Group (“ABG”) who took steps to restructure the brand’s business model,

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/04683733/filing-history/MzA2ODM1NDA1MGFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/04683733

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.