Drillgreat Limited (06292597): administration
- Status
- Administration ended
- Administration began
- 2020-08-28
- Administrators
- Anthony John Wright, Alastair Massey
- Administrators' firm
- FRP Advisory
- Incorporated
- 2007-06-26
- Location
- London
- Industry
- 64209 Activities of other holding companies n.e.c.
Why it went into administration
- COVID-19
- Cash flow / liquidity pressure
- Credit insurance / supplier credit withdrawn
From the administrators' statement
The Company was incorporated on 26 June 2007. It acted as a holding company and finance vehicle within the Monsoon Accessorize retail group. It had no employees other than its sole current director and is a wholly-owned subsidiary of Monsoon Holdings (Jersey) Limited.
A single fixed and floating charge created on 26 April 2019 is registered against the Company in favour of AEI.
The first Group company began trading in 1973 and the Group expanded in the following years to become a globally recognised retailer of womenswear and accessories. Like many other retailers, the Group was impacted by challenging highstreet conditions in recent years. These pressures were compounded by a tightening of the trade finance and trade credit insurance facilities, provided by the Group’s bank, placing severe pressure on its cashflow. The Group therefore took steps in 2019 to
Administrators' statement of proposals (2020-11-09) · Companies House register