PRO Sport Uk.Com Limited (04887447): administration
- Status
- Administration ended
- Administration began
- 2013-02-13
- Administrators' firm
- Pearcey Venture Partners
- Incorporated
- 2003-09-04
- Location
- Norwich
- Industry
- 82990 Other business support service activities n.e.c.
Why it went into administration
- Shift to online / high-street decline
- Competition / price pressure
- Weather / natural events
- Cash flow / liquidity pressure
- Sustained trading losses
From the administrators' statement
The business of Pro Sport UK com Limited (“the Company’) has been running since April 1986 as one of the current directors, Richard Sutton, ran the business as a sole trader with his wife, Heather Sutton, in small retail outlets As trading continued to grow, the business expanded into larger premises within New Ash Green shopping centre, Kent (“New Ash Green")
However, with the arrival of larger shopping centres such as Biuewater and Lakeside, both situated nearby, the level of customers visiting New Ash Green declined In 2001, Mr and Mrs Sutton decided to set up a website to allow for an additional revenue stream to the business During 2002 and 2003 the website sales continued to grow strongly and the Company mcorporated on 4 September 2003 with Mr and Mrs Sutton becoming directors
However, the sales from the store continued to drop due to a lack of investment within the shopping centre In 2004, the directors made the decision to close the store, taking an advantage of a break clause in the lease and decided to concentrate on the website sales which they believed was the way forward Shortly afterwards, the directors relocated to Norwich and the Company began trading in February 2004 from premises at Unit 7, Hurricane Way, Airport Industrial Estate, Norwich, NR6 6EZ, and a third director, Mr Barham-Brown joined the business
Administrators' statement of proposals (2013-04-16) · Companies House register