Sigma Soap Limited (05070722): administration
- Status
- Administration ended
- Administration began
- 2012-07-02
- Administrators
- Robert David Adamson, Tim Alan Askham
- Administrators' firm
- Mazars
- Formerly
- Newco Soap Limited; Forwarnco Limited
- Incorporated
- 2004-03-11
- Location
- Leeds
- Industry
- 20411 Manufacture of soap and detergents
Why it went into administration
- Bad debts / customer insolvency
- Funding withdrawn / unable to refinance
- Competition / price pressure
From the administrators' statement
The Company was incorporated on 11 March 2004 and commenced trading on 6" May 2004 The Company’s principle activity was the manufacture and sale of toilet soap and toiletry products with its focus on private label and contract manufacturing. The Company’s main expertise was in the manufacture of medicated soaps for the African markets but recently this expanded into baby products
The Company has always traded from the premises at [rwell Vale Mill as the Company had agreed a 10 year lease which was due to expiry in October 2017
Initial funding was provided by the directors from personal funds and an invoice finance facility provided by Cattles Invoice Finance (‘Cattles’) A banking facility was then set up with the Bank and later an overdraft facility was provided to the Company with a limit of £50k In May 2009 the Company moved from Cattles and RBSIF subsequently took over the invoice finance facility
Administrators' statement of proposals (2012-08-22) · Companies House register