Internacionale Retail Limited (06571495): administration
- Status
- Administration ended
- Administration began
- 2013-07-12
- Administrators' firm
- EY
- Formerly
- Timec 1169 Limited
- Incorporated
- 2008-04-21
- Location
- Manchester
- Industry
- 47710 Retail sale of clothing in specialised stores
Why it went into administration
- Weak consumer demand
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Property / lease costs
- Sustained trading losses
From the administrators' statement
The Company traded as a retailer of low cost women’s and girl's clothing, trading from 136 stores throughout the UK and Ireland, and an online retail operation through its transactional website The Company also operated from offices in Glasgow and London, and a warehouse in Glasgow
The Company had an annual turnover of circa £70m, employing approximately 1,550 staff
The Company was formed in 2008 when SKS1 Limited (‘SKS1’), a Jersey based holding company and the 100% shareholder of the Company, acquired the business and assets of 65 Internacionate branded stores from Au Nat Limited, immediately prior to its Administration in May 2008 Later that year, the Company purchased certain business and assets from the Administrators of MK One This added a further 85 stores to the Company's portfolio which were subsequently rebranded as Internactonale
Administrators' statement of proposals (2013-09-04) · Companies House register