Milano Boutique Limited (07076537): administration
- Status
- Administration ended
- Administration began
- 2014-09-10
- Administrators
- Nimish Chandrakant Patel
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2009-11-14
- Location
- London
- Industry
- 47710 Retail sale of clothing in specialised stores
Why it went into administration
- Creditor pressure / legal action
- Sustained trading losses
- Competition / price pressure
From the administrators' statement
The Company was incorporated on 14 November 2009, by then director and shareholder Mr Suman Kapur, with an objective to establish a menswear retail store To this end the business and assets of Exclusive Menswear Limited were purchased by the Company from the Administrator on 17 December 2009 for £40,000
The Company obtained a loan from Mrs Christ: Gujral of circa £250,000 to fund the purchase and startup costs which was secured via a debenture, created on 17 December 2009, over the Company’s assets The debenture was filed at Compamies House on the 23 December 2009
The Company, 1s also known as ‘Milano’, specialised in the sale of high end menswear, compnsing mainly Itahan brands, targeting wealthy customers including overseas business men and tounsts. The Company took an assignment of the lease of the store located at 89 Knightsbridge, London and commenced trading with six employees
Administrators' statement of proposals (2014-11-12) · Companies House register