Oaktarget Garments Ltd (05469046): administration
- Status
- Administration ended
- Administration began
- 2022-05-04
- Administrators
- Situl Devji Raithatha
- Administrators' firm
- Springfields Advisory
- Incorporated
- 2005-06-01
- Location
- Leicester
- Industry
- 14190 Manufacture of other wearing apparel and accessories n.e.c.
Why it went into administration
- COVID-19
- HMRC / tax arrears
- Loss of a key customer, supplier or contract
- Competition / price pressure
- Supply chain disruption
- Property / lease costs
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 Director of the Company and not from my personal knowledge as Administrator.
The Company was incorporated on 1 June 2005 and operated as a clothing manufacturer. On 1 June 2007, the Company acquired the assets of a connected company and took on its employees. The Company performed well for many years following its incorporation.
The Company was significantly impacted by the Covid-19 pandemic (“the Pandemic”), which resulted in the intermittent closure of the premises, reduced orders from customers, and costs in complying with health and safety measures. The Company was able to access Government support through the Job Retention Scheme and Coronavirus Business Interruption Scheme respectively, which assisted in combatting the continued financial impact of the Pandemic.
Administrators' statement of proposals (2022-06-28) · Companies House register