Rieves UK Limited (06781902): administration
- Status
- Administration ended
- Administration began
- 2015-01-06
- Administrators' firm
- Auria Recovery
- Incorporated
- 2009-01-02
- Location
- 27 Clements Lane
- Industry
- 47789 Other retail sale of new goods in specialised stores (not commercial art galleries and opticians)
Why it went into administration
- Loss of a key customer, supplier or contract
From the administrators' statement
The Company traded successfully for 6 years, operating from 36 kiosks in major shopping centres around the UK The Company had its head office in Market Harborough and employeed 124 staff The main activity was the sale of lottery tickets and scratch cards to the general public
Following correspondence and discussions with the largest supplier, Camelot UK Lotteries Limited (“Camelot”), at the end of 2014, Camelot served the Company with notice of the termination of their contract in December 2014 The effective date of termination was 12 January 2015 The effect of the termination would cause substantial reductions in the turnover and profit for the Company Camelot represented approximately 96% of the Company’s turnover
The Directors took legal advice from Eversheds LLP (“Eversheds”) in relation to the termination clause and the validity of the reasons provided by Camelot for terminating its agreement with the Company
Administrators' statement of proposals (2015-03-05) · Companies House register