Wellfit Direct Limited (07463029): administration
- Status
- Administration ended
- Administration began
- 2016-10-21
- Administrators
- Tracy M Clowry, Gareth Hunt
- Administrators' firm
- Ams Accountants Medical
- Incorporated
- 2010-12-07
- Location
- Handforth
- Industry
- 93130 Fitness facilities
Why it went into administration
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Bad debts / customer insolvency
From the administrators' statement
Wellfit Direct Limited (“the Company”) (Company Registration Number 07463029) was incorporated on 07 December 2010 and commenced trading shortly thereafter as an online shopping website for sports and fitness equipment and accessories
Initially the Company had 4 shareholders with shareholdings of 25% each In 2013, Thunder Road Leisure Ltd acquired a further 25% shareholding
Unfortunately, sales were not as anticipated and it was therefore decided in 2013, that the Company would head in a different direction and focus on income they believed could be generated from the rental of spin bikes to commercial health clubs
Administrators' statement of proposals (2017-01-05) · Companies House register