Merlin Retail Europe Limited (08066520): administration
- Status
- Administration ended
- Administration began
- 2013-05-01
- Incorporated
- 2012-05-11
- Location
- Gateshead
Why it went into administration
- Sustained trading losses
From the administrators' statement
The information detailed below has been provided to us by the Company No verification of this information has been carried out by the Joint Administrators
The Company was incorporated on 11 May 2012 and operated as a children’s clothing retailer Initially the Company has two equal shareholders, Mrs Serghi and Mrs Lee-Benson Investment and working capital was provided by way of an initial loan of £150,000 tn July 2012 and a further loan of E24,000 in December 2012 In addition, in December the original shareholders agreed to dilute their holding to provide for the shares issued to Ms Covalenco
The company operated under an exclusivity agreement, known as a Contract of Collaboration, with an established Iberian Spanish children’s clothing manufacturer that provided for a UK based franchise to form The company trading from a high street shop in Clapham, London The long term aim was that this would lead to national awareness of the brand and expansion, in due course, by adding further retail outlets in the UK
Administrators' statement of proposals (2013-07-02) · Companies House register