Percussion Plus Limited (06530292): administration
- Status
- Administration ended
- Administration began
- 2017-03-03
- Administrators' firm
- Antony Batty
- Incorporated
- 2008-03-11
- Location
- London
- Industry
- 32200 Manufacture of musical instruments
Why it went into administration
- Competition / price pressure
- Loss of a key customer, supplier or contract
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Sustained trading losses
From the administrators' statement
The business was originally established in 1987 in Market Harborough, Leicestershire and Percussion Plus purchased the business and assets in March 2008. The Company is a leading supplier of high quality, handmade, precision tuned, percussion instruments for the UK and export markets with a range of over 900 superior quality percussion instruments, of which 40% were being crafted in Market Harborough. The Company's brands: Symphony Premium Range, Perfect Pitch, Harmony Essentials, Percussion Essentials and Sonix Drums have earned a reputation as high quality products. The Company is also the UK distributor for Impression Cymbals.
The Company predominantly supplied most UK music stockists and the educational market with an increasing element of sales through Amazon and the Company's own online shop. The Company’s manufacturing and warehousing was based in leasehold premises in Market Harborough, which had been specifically designed for the Company. The Company also operated a factory shop from these premises. The Company’s finance department was based in leasehold premises in Andover. The Company employed sixteen members of staff, thirteen of which were based in Market Harborough.
The Company entered into an invoice discounting agreement with Bibby Financial Services Limited in July 2014.
Administrators' statement of proposals (2017-04-08) · Companies House register