The Internet Retailer Limited (06645721): administration
- Status
- Administration ended
- Administration began
- 2025-10-30
- Administrators
- Philip Lawrence, Gareth Howarth
- Administrators' firm
- Path Business Recovery
- Incorporated
- 2008-07-14
- Location
- Manchester
- Industry
- 47540 Retail sale of electrical household appliances in specialised stores
Why it went into administration
- Cash flow / liquidity pressure
- HMRC / tax arrears
- Creditor pressure / legal action
- Sustained trading losses
From the administrators' statement
3.1 Going into 2023, the business began facing severe cash flow constraints. This was primarily due to the high level of debt repayment obligations combined with an inability to purchase new stock from China, restricting turnover and causing a decline in revenue. The Directors took immediate steps to cut costs and downsize operations, but these efforts were not sufficient to overcome the working capital shortfall.
3.2 Through 2024-2025, the Director tried to increase cashflow and decrease liability, but unfortunately the business ultimately became unsustainable due to heavy debt gearing, ongoing working capital pressures, and the knock-on effects of being unable to restock key product lines. In 2025, a winding-up petition by HMRC has since been issued. With financial pressure intensifying and liabilities increasing, the Director sought professional advice regarding the Company’s financial position and the potential next steps.
3.3 Attached at Appendix II] is an account of the work undertaken prior to the Joint Administrators’ appointment and the costs associated with that work.
Administrators' statement of proposals (2025-12-30) · Companies House register