Promo International Limited (05003451): administration
- Status
- Administration ended
- Administration began
- 2020-10-21
- Administrators
- James Alexander Snowdon, Georgina Marie Eason
- Administrators' firm
- MHA
- Incorporated
- 2003-12-24
- Location
- London
- Industry
- 46900 Non-specialised wholesale trade
Why it went into administration
- Funding withdrawn / unable to refinance
- Weather / natural events
- COVID-19
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Bad debts / customer insolvency
- Sustained trading losses
- Competition / price pressure
From the administrators' statement
Creditors should note that, unless otherwise stated, this section of my proposals has been prepared based on information provided to me by the Directors of the Company and representatives and not from my personal knowledge as Joint Administrator.
Promo International Limited (“the Company”) was incorporated on 24 December 2003 by the Directors, Peter and Lynda Townsend. The Company was formed to design and manufacture promotional branded merchandise. The Directors have a combined number of 34 years’ experience in the promotional market.
The Company traded from Orwell Court, Hurricane Way, Wickford, SS11 8YJ, but also had a consultant based in Hong Kong who monitored and controlled operations in the Far East.
Administrators' statement of proposals (2020-12-21) · Companies House register