Wicks Office Furniture Ltd (07430488): administration
- Status
- Administration ended
- Administration began
- 2017-12-18
- Administrators' firm
- Begbies Traynor
- Formerly
- Wicks Plastics Ltd.
- Incorporated
- 2010-11-05
- Location
- Manchester
- Industry
- 31010 Manufacture of office and shop furniture
Why it went into administration
- Sustained trading losses
- Cash flow / liquidity pressure
- HMRC / tax arrears
- Creditor pressure / legal action
- Loss of a key customer, supplier or contract
- Property / lease costs
From the administrators' statement
The Company was incorporated on 5" November 2010 and was originally named Wicks Plastics Limited. The Company changed its name on 13 September 2013 to Wicks Office Furniture Limited and commenced trading under this name on the same day as a manufacturer of office furniture. Prior to this the Company was dormant.
In the Company's first period of trade from commencement to 31 May 2014, turnover of c£1.2 million was generated resulting in a small profit of cE15k. Turnover increased in the second and third years to c£1.9 million and £2.4 million generating profit of ch27k and £17k respectively.
In the most recent trading period up to 31 May 2017, turnover decreased significantly to c£1.75 million as a result of a number of issues.
Administrators' statement of proposals (2018-02-20) · Companies House register