Cosmic Ears Ltd (08146895): administration
- Status
- In administration
- Administration began
- 2026-02-03
- Administrators
- Hemal Mistry, Manubhai Govindbhai Mistry
- Incorporated
- 2012-07-17
- Location
- Bury
- Industry
- 62090 Other information technology service activities
Why it went into administration
- COVID-19
- Brexit
- Property / lease costs
From the administrators' statement
3.1 The Company faced significant operation and financial challenges starting with the Brexit decision. This event negatively impacted European sales, increased the costs of essential raw materials, and introduced complexities in shipping operations.
3.2 Shortly after the impacts of Brexit began to materialise, the business was severely affected by the COVID-19 pandemic. The Company partly closed during this period, retaining only skeleton staff to cover essential orders, resulting in extremely low income while substantial outgoings, such as rent and contracts, remained. Furlough payments did not fully cover salaries, making the COVID-19 period particularly costly.
3.3 Following the pandemic lockdown period, the primary client base, the music industry, remained quiet and financially impacted for approximately a year. Business was slow, and with a full workforce back in operation, the Company began running at a loss. While business had picked up slightly in the 6 to 12 months preceding the Administration, the pace of recovery was insufficient to repay the significant debts that had been incurred during the preceding turbulent periods.
Administrators' statement of proposals (2026-03-02) · Companies House register