Abakus Direct Ltd. (08067844): administration
- Status
- Administration ended
- Administration began
- 2018-08-22
- Administrators' firm
- Robson Kay Associates
- Incorporated
- 2012-05-14
- Location
- Bolton
- Industry
- 31090 Manufacture of other furniture
Why it went into administration
- Creditor pressure / legal action
- Sustained trading losses
- Cash flow / liquidity pressure
- Parent or group failure
- Brexit
From the administrators' statement
The Company was incorporated by Mr Wiktor Laskowski on 14 May 2012 as an importer of furniture for sale online. Mr Laskowski had substantial experience of importing goods to sell online and, had previously traded several businesses. initial funding was provided by way of personal monies injected by the director, in the approximate sum of £50,000, to enable the purchase of stock, which was purchased/imported from China, and to assist with general trading and working capital.
The Company initially traded from a small unit at Welcomb Street, Manchester; however, following the first few months of trading and initial growth of the Company, it became apparent that a larger facility was required as the quantity of stock held had increased. As such, the Company moved to a larger unit within the same industrial park.
The Company imported all stock from China, and sold online via its ecommerce website, whilst also utilising the services of Amazon and eBay.
Administrators' statement of proposals (2018-12-10) · Companies House register