Planet X Ltd (06535324): administration
- Status
- Administration ended
- Administration began
- 2023-06-09
- Administrators
- Howard Smith, Richard John Harrison
- Administrators' firm
- Interpath Advisory
- Incorporated
- 2008-03-14
- Location
- Thirsk Row
- Industry
- 47640 Retail sale of sports goods, fishing gear, camping goods, boats and bicycles
Why it went into administration
- COVID-19
- Weak consumer demand
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Creditor pressure / legal action
From the administrators' statement
Planet X Limited (the 'Company’) is an online cycling B2C retailer selling road, gravel and mountain bikes. The business had been designing and assembling bikes for 30 years and was incorporated on 14 March 2009.
The Company operated from leasehold premises in Rotherham, South Yorkshire.
The statutory directors of the Company are Richard Mostyn-Jones, Gerard Cahill, Catherine Lyons and Trevor Parker (together, the ‘Directors’). The Company has one secured lender, Santander. At the date of our appointment, the Company employed 33 members of staff.
Administrators' statement of proposals (2023-08-03) · Companies House register