WK Realisations Limited (09237297): administration
- Status
- Administration ended
- Administration began
- 2016-11-28
- Administrators
- William James Wright, Robert Andrew Croxen
- Administrators' firm
- KPMG
- Formerly
- Worldstores Kiddicare Limited
- Incorporated
- 2014-09-26
- Location
- London
- Industry
- 47789 Other retail sale of new goods in specialised stores (not commercial art galleries and opticians)
Why it went into administration
- Cash flow / liquidity pressure
- Funding withdrawn / unable to refinance
- Creditor pressure / legal action
From the administrators' statement
The Group ts a £100 million turnover e-commerce retailer which employed c650 staff and sold home, garden and nurseryware through its various websites
Worldstores was established in 2008 and developed its e-commerce platform together with proprietary software to enhance the website operation and logistics fulfilment Worldstores capitalised approximately £8 6 million of internally generated software tn its filed statutory accounts to 31 January 2015 We understand there are over 1000 registered domain names across the Administration Companies
In 2014, Worldstores purchased the trade and assets of Kiddicare In December 2015, Worldstores purchased the shares tn Achica Limited The rationale for both purchases was to expand the product offerings available whilst taking advantage of some of the Worldstores infrastructure to drive efficiencies
Administrators' statement of proposals (2016-12-28) · Companies House register