The Lighting Store (Concessions) Limited (05808998): administration
- Status
- Administration ended
- Administration began
- 2015-10-22
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2006-05-08
- Location
- London
- Industry
- 47540 Retail sale of electrical household appliances in specialised stores
Why it went into administration
- HMRC / tax arrears
- Creditor pressure / legal action
- Property / lease costs
- Sustained trading losses
From the administrators' statement
The Company has been trading shortly after its incorporation on 8 May 2006 from the leasehold premises at 62-64 Baker Street, London W1U 7DF and also from 759-763 Finchley Road, London NW11 8DL The main activity of the Company was that of the retail sale of electrical household appliances
The Company began to expenence financial difficulttes as a consequence of a decline in turnover in 2015 As a result, the Company expenenced creditor pressure particularly from HMRC and trade suppliers In addition the Company was advised that the rent for the Baker Street premises was to be increased from about £97,500 per annum to about £225,000 per annum if it wished to renew the lease from 11 November 2015 The Company was not able to afford to pay the proposed higher rent for those premises and decided to close the Baker Street store
The proposed administrators were contacted by the Company’s directors and shareholders, Daniel Collins and Kenneth Collins, and the Company's accountants Andrew Kirshen of Kershen Fairfax, and a first meeting was held at Begbies Traynor’s offices on 25 September 2015 at which the Company’s financial position was discussed
Administrators' statement of proposals (2015-12-31) · Companies House register