Brain and Co (South Wales) Ltd (08795557): administration
- Status
- Administration ended
- Administration began
- 2020-08-27
- Administrators' firm
- Leonard Curtis
- Incorporated
- 2013-11-28
- Location
- Cardiff
- Industry
- 46370 Wholesale of coffee, tea, cocoa and spices
Why it went into administration
- COVID-19
- Cash flow / liquidity pressure
- Property / lease costs
- Sustained trading losses
From the administrators' statement
The Company was incorporated on 28 November 2013 and supplied stationery and office products to business customers throughout the South Wales region. The Company's business model was built on providing a nextday delivery service for all product lines.
From 2013 to 2016 the Company made year on year profits. However, the loss of a key sales representative in 2016, who left the Company to start a competing stationery business, resulted in a dramatic and almost immediate loss of sales.
Due to this decline in turnover, the Company began to struggle to meet its regular financial commitments and overheads and the decision was therefore made to move the Company's operations to premises in Cwmbran
Administrators' statement of proposals (2020-10-13) · Companies House register