POS Displays Limited (06704839): administration
- Status
- In administration
- Administration began
- 2023-12-13
- Administrators
- Neil Charles Money
- Administrators' firm
- CBA Business Solutions
- Incorporated
- 2008-09-23
- Location
- Leicester
- Industry
- 32990 Other manufacturing n.e.c.
Why it went into administration
- Loss of a key customer, supplier or contract
- Rising costs / inflation
From the administrators' statement
Creditors should note that, unless otherwise stated, this section of my proposals has been prepared based on information provided to me by the directors of the Company and not from my personal knowledge as Administrator.
POS Displays Ltd commenced trading in September 2008 supplying Point of Sale stands to customers supplying the retail sector. Prior to Covid the business was trading well with lots of opportunities presented themselves. During Covid the business remained profitable but as things returned to normal the business was given notice to move by its landlord. After a long search new premises were found which were substantially bigger but as trade was good it was budgeted that the Company could afford the extra costs.
Within a few months of moving there was a loss of a major customer. The whole UK market also reduced its purchasing with the increase in costs and downturn in retail sales. The war in Ukraine added further increases to material costs with much of the timber trebling in price. During the summer of 2023 the Company reduced all its costs to a minimum and was attempting to trade out of the slump. However the continued poor sales and high costs resulted in the business seeking protection from its creditors. A summary of the Company’s recent trading performance is shown below.
Administrators' statement of proposals (2024-02-08) · Companies House register