Norgrove Building Supplies Limited (05866506): administration
- Status
- Administration ended
- Administration began
- 2023-11-23
- Administrators
- Kirsty Swan, Conrad Alan Beighton
- Administrators' firm
- Leonard Curtis
- Formerly
- Proplas PVC Centre Limited
- Incorporated
- 2006-07-04
- Location
- Birmingham
- Industry
- 46740 Wholesale of hardware, plumbing and heating equipment and supplies
Why it went into administration
- Sustained trading losses
- COVID-19
- Rising costs / inflation
- Property / lease costs
From the administrators' statement
3.4 The Company was incorporated in 2006 and traded as an independent bullders' merchant open to the trade and generat pubfic, from leasehcld premises In Kidderminster, The sole shareholder is Norgrove Group Limited.
3.2 The Company had historically traded profitability until the year ended 30 September 2021, when the cost of sales and administrative expenses increased significantly, resulting in a lass of £125k. Recent accaunts to 30 September 2022, also showed the Campany to be loss-making.
3.3 The director confirmed that the Company's worsening financial position was a result of the Covid-19 ! pandemic, He advised that, whilst turnover increased as a result of demand for home Improvements during this time, margins reduced because of increased supply and staff costs. As detalled above, the | Company was loss-making during the years ended 30 September 2021 and 2022,
Administrators' statement of proposals (2023-12-18) · Companies House register