# Anbo International Limited (06295997)

> Why UK company 06295997 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/06295997

- **Status:** Administration ended
- **Administration began:** 2018-06-01
- **Administrators:** Andrew James Pear, Michael Stephen Elliot Solomons
- **Administrators' firm:** Moorfields
- **Formerly:** Anbo Shanghai Corporation (UK) Limited
- **Incorporated:** 2007-06-28
- **Location:** London
- **Industry:** 46730 Wholesale of wood, construction materials and sanitary equipment

## Why it went into administration

- Competition / price pressure

## From the administrators' statement

The Company was incorporated on 28 June 2007 and traded as a wholesale supplier of wood flooring stock from manufacturers located in China, to UK based retailers. The Company expanded its operations into the UK retail market in late 2015 when it acquired 20 leasehold stores and the retail arm traded under the brand ‘Flooring Republic’. The Company also had an online presence in conjunction with a third party through the website www.poshflooring.co.uk.

From 2011 the Company took credit arrangements with HSBC Bank pic (“HSBC”), RBS Invoice Finance Limited CRBS”) and Anbo HK to fund ongoing operations. These facilities were secured by a fixed and floating charge over certain assets and the whole or substantially the whole of the Company’s undertaking.

In 2017 the interior design and construction industries changed such that management couid no longer predict demand for the products. Large competitors were also suffering under the changing market conditions. Management took the decision to split Anbo’s business between wholesale and retail and the retail arm was transferred to its wholly owned subsidiary, Flooring Republic Limited ("FR") with a view to selling the retail business as a separate entity in the future. Anbo supplied FR with stock and provided significant financial support since the change in structure. FR was placed into Administration on 29 May 2018.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/06295997/filing-history/MzIwODA0MjMwOWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/06295997

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.