Victoria's Secret UK Limited (07279467): administration
- Status
- Administration ended
- Administration began
- 2020-06-05
- Administrators' firm
- Deloitte
- Formerly
- New Bond Street Properties Ltd
- Incorporated
- 2010-06-09
- Location
- Birmingham
- Industry
- 68209 Other letting and operating of own or leased real estate
Why it went into administration
- Property / lease costs
- COVID-19
- Weak consumer demand
- Sustained trading losses
- Rising costs / inflation
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
From the administrators' statement
The Company had been loss making for a number of years, reporting an operating loss of £49m and £171m in F¥18 and FY19 respectively.
As with many ‘bricks and mortar’ retailers, the Company faced a number of pressures which have led to a
, deteriorating financial position including:
Administrators' statement of proposals (2020-08-15) · Companies House register