Lucinda Jane Ltd (04940555): administration
- Status
- Administration ended
- Administration began
- 2020-05-20
- Administrators' firm
- Quantuma
- Formerly
- Lulu Guinness Limited; LGCK Limited
- Incorporated
- 2003-10-22
- Location
- London
- Industry
- 47722 Retail sale of leather goods in specialised stores
Why it went into administration
- COVID-19
- Cash flow / liquidity pressure
- Sustained trading losses
From the administrators' statement
The business has experienced difficult trading conditions in recent years and the new management team has sought to re-energise and re-focus the brand under a new 3. year plan. However, cash flow difficulties have been persistent.
The Covid-19 pandemic had a significant effect on the business as the stores had to close down due to social distancing restrictions, exacerbating cash flow problems. Whilst the Company received some ongoing revenue from online sales, there was no prospect of repaying the significant. liabilities of the Company without third party support.
Overview of Financial Information
Administrators' statement of proposals (2020-06-10) · Companies House register