Millican Limited (06650468): administration
- Status
- Administration ended
- Administration began
- 2021-02-01
- Administrators
- Paul W Barber, Gary Norton Lee
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2008-07-18
- Location
- Manchester
- Industry
- 15120 Manufacture of luggage, handbags and the like, saddlery and harness
Why it went into administration
- Cash flow / liquidity pressure
From the administrators' statement
The Company was incorporated on 18 July 2008 by Jorrit Jorritsma and Nicky Forbes-Jorritsma for the purpose of building a sustainable and ethical lifestyle brand called Millican, around a small collection of travel bags and accessories made from 100% organic cotton canvas.
The Company was launched with the help from the three local shareholders and a £50,000 loan from the National Westminster Bank Plc, which was paid off in full within term. In subsequent years, the Company raised further and significant equity investment / loans to assist with expanding the team and the implementation of a new integrated order processing, stock management and accounting IT systems.
In 2014, the Company moved into its first leasehold office near Keswick. In 2017, the Company rented a second unit on the same estate and in 2019, the team brought together in a new purpose-built leasehold office and showroom building on the same estate.
Administrators' statement of proposals (2021-02-18) · Companies House register