SRS Realisations 2017 Limited (07189003): administration
- Status
- Administration ended
- Administration began
- 2018-08-17
- Administrators' firm
- KPMG
- Formerly
- Saltrock Surfwear Limited; Surfwear Limited
- Incorporated
- 2010-03-15
- Location
- Reading
- Industry
- 46420 Wholesale of clothing and footwear
Why it went into administration
- Cash flow / liquidity pressure
- Funding withdrawn / unable to refinance
- HMRC / tax arrears
- Rising costs / inflation
- Sustained trading losses
From the administrators' statement
The principal activities of the Company are the design, import and sale of Saltrock-branded leisure clothing and accessories through its store base and online. Saltrock is Devon-based and its core focus is built around Travel, Surf, and Adventure apparel for Men, Women and Children. As at 31 July 2018, Saltrock employed 214 people in its stores, warehouse and head office functions.
Saltrock products were sold through its 32 store network, largely based in the South and South West of England, and through its online store that ships the products all over the UK as well as internationally. Historically, the Company also operated through concessions although this is no longer the case.
The Saltrock brand was founded in 1988. The Company acquired the business and assets through administration on 31 March 2010. The Company was incorporated on 15 March 2010 and is the only trading entity of the business.
Administrators' statement of proposals (2018-09-13) · Companies House register