Pricecrop Limited (06691934): administration
- Status
- Administration ended
- Administration began
- 2014-03-13
- Administrators
- David Nicholas Clark
- Administrators' firm
- Clark Business Recovery
- Incorporated
- 2008-09-09
- Location
- Leeds
- Industry
- 47190 Other retail sale in non-specialised stores
Why it went into administration
- Property / lease costs
- Sustained trading losses
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
From the administrators' statement
Pricecrop Limited (the ‘Company’) was incorporated on 09 September 2008 to facilitate a management buyout of the business formerly operated by Price Pounder Limited The Company operated as retailers and traded under the trading styles Pricepounder and X Chainstore from premises at Unit 3 Wharfedale Road, Euroway Trading Estate, Bradford, BD4 6SG along with 3 separate stores located at 29-30 Sandside, Scarborough, YO11 1PG, 11-12 Sandside, Scarborough, YO11 1PE and 5-7 Sandside, Scarborough, YO11 41PG
Statutory information concerning the Company ts attached at Appendix A
Following the management buyout the Company initially made profits but following a difficult trading period and internal disagreements resulting in the finance director resigning in January 2011 the Company was in need of a large cash injection to finance new stock and provide working capital
Administrators' statement of proposals (2014-05-12) · Companies House register