Global Retail Sports Ltd (10162361): administration
- Status
- Administration ended
- Administration began
- 2019-05-02
- Administrators
- Katy Mcandrew, Andrew Poxon
- Administrators' firm
- Leonard Curtis
- Incorporated
- 2016-05-04
- Location
- Manchester
- Industry
- 47640 Retail sale of sports goods, fishing gear, camping goods, boats and bicycles
Why it went into administration
- Creditor pressure / legal action
- Sustained trading losses
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Parent or group failure
From the administrators' statement
The Company was incorporated on 4 May 2016 and commenced to trade shortly after incorporation upon the opening of a running shop in Wigan. The first period of trading ended on 31 March 2017.
The Company is associated with a company called RBG Realisations Limited (formerly The Realbuzz Group Limited) (In Administration) (“Realbuzz’) which commenced trading in 2000 whose principal trading activity initially was the development of running and fitness websites. In 2006 Realbuzz launched its own event management software which has subsequently been used by various sporting events around the world. This software product was fully integrated with the running and fitness websites. The shop in Wigan was opened with a view to promoting the Realbuzz brand.
During 2017 and 2018 a further 16 stores nationally were opened under the Realbuzz brand, which were operated through Global Retail Sports Limited ("GRS”). All of the leases apart from the Chester and Wigan premises are in the name of Realbuzz.
Administrators' statement of proposals (2019-07-09) · Companies House register