Lewis's Home Retail Limited (06865192): administration
- Status
- Administration ended
- Administration began
- 2020-02-28
- Administrators' firm
- Springfields Advisory
- Formerly
- Home Xtra Stores Ltd
- Incorporated
- 2009-03-31
- Location
- Leicester
- Industry
- 47190 Other retail sale in non-specialised stores
Why it went into administration
- Weak consumer demand
- Property / lease costs
- Sustained trading losses
- Competition / price pressure
From the administrators' statement
The Company was incorporated on 31 March 2009 and acquired the business, assets and property rights of six stores from an unconnected company, TJ Hughes Limited, which had entered into Administration. The original business was founded in Liverpool in 1912 and operated as one of the largest department stores in the United Kingdom.
By 2014, the Company traded from ten department stores nationwide and successfully launched its website. A further seven stores were acquired following the Administration of Paul Simon (London) Limited, although four of the underperforming stores were closed in 2015. Growth continued throughout 2015 and 2016 with the acquisition of seven further stores. In 2017, the Company’s plans to further develop the brand and open new stores was impacted by the downturn in the retail sector owing to increased competition from online retailers and declining footfall. Despite this, the Company's turnover continued to increase and it made a post-tax profit of £1,148,622 in the accounting period ended 31 January 2018.
in 2018, the Company received new investment from overseas, which enabled it to expand and focus on developing the brand in Scotland.
Administrators' statement of proposals (2020-04-30) · Companies House register