Suay Distributors Limited (06239178): administration
- Status
- Administration ended
- Administration began
- 2011-06-06
- Incorporated
- 2007-05-08
- Location
- Altrincham
- Industry
- 5244
Why it went into administration
- Creditor pressure / legal action
- Competition / price pressure
From the administrators' statement
Suay Distributors Limited was established on 8 May 2007 in Manchester The main purpose of the company was to import bathroom cabinets from Turkey The factory chosen to supply the company in Turkey was new to this business and had never dealt with overseas export Due to this numerous problems were encountered, however as the company was financially secure it was decided to give them time to resolve the issues they were experiencing
During this period Suay Distributors were getting a lot of attention as they were a new company on the market, however the company was not recetving any orders until the March 2008 KBB Exhibition at the Birmingham NEC
The production steadily began getting better and the company was more confident with its products After the exhibition the company started receiving more orders and opened new accounts with customers However the factory which was supplying the goods had high prices and, in order to be competitive, products were sold at very low margins Unfortunately this meant that the company was unable to cover its costs and the director was forced to put cash into the business through loans and the sale of a property A meeting was arranged with the supplier to see if the prices could be reduced but this was unsuccessful
Administrators' statement of proposals (2011-08-18) · Companies House register