The Directorate Corporation Limited (06439575): administration
- Status
- Administration ended
- Administration began
- 2015-12-04
- Administrators
- Michael Chamberlain
- Administrators' firm
- Risk Capital Partners
- Formerly
- The Scorpia Corporation Limited
- Incorporated
- 2007-11-28
- Location
- Leeds
- Industry
- 47110 Retail sale in non-specialised stores with food, beverages or tobacco predominating
Why it went into administration
- Sustained trading losses
- Weak consumer demand
- Creditor pressure / legal action
- Competition / price pressure
From the administrators' statement
The Company was incorporated on 28 November 2007 and was dormant until the purchase of the trading outlet known as PB Supermarkets in December 2013 Vishal Pate! (“VP”) ts the sole director of the Company and 100% shareholder
The Company purchased the assets and stock of P B Supermarket (Leicester) Limited on 20 December 2013 for £230,000 and took an assignment of the lease for the premises at 310 Saint Saviours Road, Leicester, LES 4HF
In the first year of trading the Company’s turnover to 31 December 2014 amounted to £463,752 and it achieved a profit before tax of £96,125 In 2015 the Company’s turnover reduced by approximately £100,000 following the loss of the Company’s “Paypomt” facility which reduced the footfall and the resultant impulse expenditure from customers who utilised the bill payment facility The Company’s turnover also reduced when the Company switched suppher from Nisa Retail Limited (“Nisa”) as brands previously known to and favoured by 1ts customer base became unavailable The Company re-established its supply with Nisa, however, their move towards certain £1 lines had the effect of supressing profit margms The Company also received imcreased competition in the local area with the opening of a Tesco Express which replaced a Waitrose site The reduction in turnover and losses incurred resulted in the Company being unable to pay its suppliers and creditors on time
Administrators' statement of proposals (2016-02-03) · Companies House register