Swich (UK) Limited (06419752): administration
- Status
- Administration ended
- Administration began
- 2018-02-09
- Incorporated
- 2007-11-06
- Location
- London
- Industry
- 56103 Take-away food shops and mobile food stands
Why it went into administration
- HMRC / tax arrears
From the administrators' statement
The Company was incorporated on 6 November 2007 and its principal activities are the retail sale of frozen yogurt. It started trading from retail premises in Covent Garden, London in 2010 as a franchisee of SNOG Pure Frozen Yogurt Limited (“SPFY”).
During 2014, a second store was opened as a franchise pop-up location at Southbank Centre, London and in May 2015 the Company acquired retail premises in Soho, London from SPFY.
In September 2016, the Company completed the purchase of SPFY and all of its subsidiaries for an initial payment of £75,000 and ongoing payments of 5% of revenue for a period of 30 months. SPFY’s assets and liabilities were hived up into the Company and SPFY ceased to trade. The Company was burdened with legacy debts in excess of £500,000 which it continued to pay where it was able to.
Administrators' statement of proposals (2018-04-20) · Companies House register