Prodoto Photographic Studios Limited (06821861): administration
- Status
- Administration ended
- Administration began
- 2020-06-04
- Administrators' firm
- DL Partnership (uk)
- Incorporated
- 2009-02-17
- Location
- Halifax
- Industry
- 74201 Portrait photographic activities
Why it went into administration
- Property / lease costs
- COVID-19
- Weak consumer demand
- HMRC / tax arrears
- Loss of a key customer, supplier or contract
From the administrators' statement
The Company was incorporated on 17 February 2009 by Mr and Mrs Lack and traded as a commercial product photography studio. The Company specialised in fashion, products, interiors, e-commerce and food and drink photography. The Company ultimately expanded into five inter-connected industrial units situated at Belvoir House, Caldene Business Park, Mytholmroyd, Hebden Bridge, HX7 5Q] in order to accommodate the construction of lifestyle room set interiors.
The Company had suffered a drop in turnover from £1,801,984 to £1,474,437 during the year to 31 March 2019 which resulted in a loss before tax of £66,355. However, during 2019 clients were lost due to a high profile retail insolvency and a national furniture retailer taking the decision to bring its photography provision In house. At the start of 2020, the Directors had therefore concluded that overhead savings would need to be considered whilst new clients were sought.
The Company’s monthly rent cost was £18,500 and with the loss of the furniture retailer, two of its units would be surplus to requirements. The Directors therefore made an initial approach to the Company’s landlord to explore the surrender of these leases.
Administrators' statement of proposals (2020-08-04) · Companies House register