Premier Stationery Products Limited (09865940): administration
- Status
- Administration ended
- Administration began
- 2022-07-01
- Administrators
- Colin David Wilson, Louise Williams
- Administrators' firm
- Opus Restructuring
- Incorporated
- 2015-11-10
- Location
- Milton Keynes
- Industry
- 47620 Retail sale of newspapers and stationery in specialised stores
Why it went into administration
- Creditor pressure / legal action
From the administrators' statement
3.1 The Company has maintained support from the major Shareholder and the stock that was obtained belonged to the Shareholder who would supply the Company, so that it could then be distributed via orders in UK warehouses.
3.2 There has been a breakdown in communications between the Company and the major Shareholder. It is understood that a Statutory Demand for payment was about to be received from the Shareholder, which is why the directors sought legal advice.
3.3. The legal advice led to the directors taking insolvency advice and the result of the impending statutory demand, in addition to the directors being aware that orders were not being fulfilled, meant the company was placed into Administration.
Administrators' statement of proposals (2022-08-30) · Companies House register