SW Trading Limited (09511757): administration
- Status
- Administration ended
- Administration began
- 2022-11-18
- Administrators
- Paul Stanley, Jason Dean Greenhalgh
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2015-03-26
- Location
- Manchester
- Industry
- 47910 Retail sale via mail order houses or via Internet
Why it went into administration
- COVID-19
- Property / lease costs
- Competition / price pressure
- Weak consumer demand
- Supply chain disruption
- Creditor pressure / legal action
From the administrators' statement
The director, Stanley Weekes provided the following company history and information:
The business was set up in March 2015, following which the first three years of the business showed continuous growth and many opportunities. We only traded on EBay initially and always wanted to develop a website. As we grew, we moved premises. We were getting offered bigger and bigger stock packages, late 2018 we were offered £1,000,000 pounds worth of stock for £250,000. We agreed to move to a 32,000 sq ft warehouse to give us enough space to hold process and manage our business. Resource was also increased at this point, by this time we were developing a website.
We failed with a couple of attempts at websites. The business was doing well growing, and we thought we would soon be making a profit all the signs were good. More suppliers coming on board this was stretching finances and we continually investing into the business. Topping out at 23 staff payday was always needing investment. We had a good software management system and all depts were working well.
Administrators' statement of proposals (2023-01-03) · Companies House register