Middleton Mobility Limited (07708618): administration
- Status
- Administration ended
- Administration began
- 2023-01-16
- Administrators
- Matthew Steven Roe, Richard Michael Hawes
- Administrators' firm
- Teneo
- Formerly
- Middleton's Furnishings Limited; Middletons Furnishings Limited
- Incorporated
- 2011-07-18
- Location
- Birmingham
- Industry
- 47749 Retail sale of medical and orthopaedic goods in specialised stores (not incl. hearing aids) n.e.c.
Why it went into administration
- COVID-19
- Weak consumer demand
- Rising costs / inflation
- Supply chain disruption
- Sustained trading losses
From the administrators' statement
The Company began experiencing a decline in trading performance in early 2020 as a result of the onset of the Covid19 pandemic (“the Pandemic’). Following the Pandemic, in common with many retailers, the Company has faced a further series of difficulties including inflationary pressure on costs, supply chain difficulties and declining consumer confidence. This resulted in the Company relying on significant intercompany financing to pay its debts as they fell due.
Consequently, in April 2021, the Group sought to market the Company for sale, with a process launched in July 2021. Unfortunately, the poor performance of the Company anda further closure of stores as a result of the Pandemic resulted in no offers proceeding beyond the second round of offers.
Accordingly, the directors approached the Development Bank of Wales (“DBOW’”) in their capacity as secured creditor to discuss a solution to the Company's financial difficulty.
Administrators' statement of proposals (2023-03-10) · Companies House register