RP Realisations Limited (10276880): administration
- Status
- Administration ended
- Administration began
- 2023-08-08
- Administrators' firm
- Kroll
- Formerly
- Rockport International Limited
- Incorporated
- 2016-07-13
- Location
- London
- Industry
- 46420 Wholesale of clothing and footwear
Why it went into administration
- COVID-19
- Rising costs / inflation
- Supply chain disruption
- Cash flow / liquidity pressure
From the administrators' statement
The Company was part of the Rockport Group, which had trading entities in the USA, South Korea, China, Spain and Portugal. In addition, the Group had a number of holding companies in the USA and the UK, including the Company’s direct parent, Rockport UK Holdings Ltd.
Certain of the Company's Group, including Rockport UK Holdings Ltd were placed into Chapter 11 Insolvency in the USA due to the Group encountering cash flow issues, as a result inflation, worldwide supply chain issues, high utility bills and the fall out of the COVID 19 pandemic.
A sale of the US business was achieved, however, the purchaser did not wish to acquire the European operations, and therefore the Company was not in a position to continue trade.
Administrators' statement of proposals (2023-10-05) · Companies House register