Somerset Gadgets Limited (10254316): administration
- Status
- Administration ended
- Administration began
- 2023-10-02
- Administrators
- Martin Charles Armstrong, Andrew Richard Bailey
- Administrators' firm
- Interpath Advisory
- Incorporated
- 2016-06-28
- Location
- Weybridge
- Industry
- 46900 Non-specialised wholesale trade
Why it went into administration
- Management failings / irregularities
- Competition / price pressure
- COVID-19
- Supply chain disruption
- HMRC / tax arrears
- Creditor pressure / legal action
- Property / lease costs
- Sustained trading losses
- Brexit
From the administrators' statement
Creditors should note that, unless otherwise stated, this section of the proposals has been prepared based on information provided by the Board of Directors ("the Board") of the Company and not from our personal knowledge as Joint Administrators.
The Company was formed on 28 June 2016 and started trading shortly thereafter. The Company is based in Somerset and is a direct importer and retailer for various toys, specialising in electric ride-on cars.
The Company traded under the name Ricco and Turbokidz and its trading premises was at Unit 1, Station Road, Midsomer Norton, Radstock, BA3 2B).
Administrators' statement of proposals (2023-11-27) · Companies House register