Wilchap 564 Limited (10789476): administration
- Status
- Administration ended
- Administration began
- 2018-10-18
- Administrators
- Claire Elizabeth Dowson, Joanne Louise Hammond
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2017-05-25
- Location
- Sheffield
- Industry
- 14190 Manufacture of other wearing apparel and accessories n.e.c.
Why it went into administration
- Cash flow / liquidity pressure
- Bad debts / customer insolvency
From the administrators' statement
The Company was incorporated on 25 May 2017 for the purpose of purchasing the business and assets of Vulpine Performance Limited ~ In Administration (“Vulpine”). The sale completed on 26 May 2017, with the Company and Vulpine being unconnected.
Trading from leased premises at Unit 10 Harland Works, 70 John Street, Sheffield S2 4QU, the Company sold commuter clothing for cyclists.
Under the terms of the sale and purchase agreement between Vulpine and the Company, the Company adopted the six employees of Vulpine. The Company began to experience financial difficulties shortly after the sale completed, as a consequence of its inability to raise the finance it required. Such difficulties were encountered due to the association with Vulpine and the new status of the Company. Without a trading history, limited finding options were available. Funding was subsequently obtained from Donbac Limited (“Donbac’) some five months after the purchase of the business.
Administrators' statement of proposals (2018-11-28) · Companies House register