The Sales Partnership Distributors Limited (05513385): administration
- Status
- Administration ended
- Administration began
- 2020-03-30
- Administrators' firm
- KRE Corporate Recovery
- Incorporated
- 2005-07-19
- Location
- Reading
- Industry
- 46499 Wholesale of household goods (other than musical instruments) n.e.c
Why it went into administration
- Loss of a key customer, supplier or contract
- Cash flow / liquidity pressure
- Sustained trading losses
- Competition / price pressure
From the administrators' statement
The Company had experienced difficult trading conditions for a period of time. In early 2020, it was aware of a number of older invoices due from Amazon, one of their largest customers, of approximately £200,000 in value, that had not been paid.
Despite continued efforts to collect the outstanding debts, the Directors were acutely aware that the automated nature of trading with Amazon meant that these older invoices may take months or even years to resolve.
It was also apparent to the directors that the Company’s sales ledger, subject to an invoice financing agreement with Ultimate Finance Plc (“Ultimate”), would be likely to experience a significant shortfall if these old invoices could not be collected.
Administrators' statement of proposals (2020-05-22) · Companies House register