SNS Pharma Limited (06438807): administration
- Status
- Administration ended
- Administration began
- 2020-02-06
- Administrators' firm
- Edge Recovery
- Incorporated
- 2007-11-27
- Location
- Bromley
- Industry
- 47730 Dispensing chemist in specialised stores
Why it went into administration
- Property / lease costs
- Sustained trading losses
From the administrators' statement
Creditors should note that, unless otherwise stated, this section of my proposals has been prepared based on information provided to me by the directors of the Company and not from my personal knowledge as Administrator.
The director purchased the business in September 2009 for £180,000, plus the stock at valuation. The pharmacy had been trading for over 20 years in the same location and was well known in the area for its cut price fragrance and cosmetics, though not so much for the pharmacy itself. Although making losses, the director believed it was a great opportunity to work hard and rebuild the business.
The vision was to make it a community pharmacy with members of staff that spoke over 10 different languages to cater for the diverse, local population. The director believed this worked well and it was important to have other streams of income/ growth.
Administrators' statement of proposals (2020-02-24) · Companies House register