BSB Retail Limited (11299720): administration
- Status
- Administration ended
- Administration began
- 2023-05-23
- Administrators
- Kristian Shuttleworth, Clare Boardman
- Administrators' firm
- Teneo
- Incorporated
- 2018-04-09
- Location
- Birmingham
- Industry
- 96090 Other service activities n.e.c.
Why it went into administration
- COVID-19
- Rising costs / inflation
- Weak consumer demand
- Cash flow / liquidity pressure
- Sustained trading losses
From the administrators' statement
The Companies’ trading performance suffered during the COVID-19 pandemic and trading challenges continued as a result of the current economic environment (including the cost of living crisis and inflationary cost pressures). .
In mitigation to the challenges faced, and to protect the business, the Companies made use of government schemes including Coronavirus Business Interruption Loan Scheme ("CBILS”) and Recovery Loan Scheme (“RLS”) funding, made a business interruption insurance claim, increased supply to supermarkets and developed an e-commerce platform to boost sales, following the mandatory closure of hospitality venues due to COVID-19.
However, demand did not recover to pre-COVID levels, and as above, the Companies also faced cost input inflation. As a result, the Companies continued to experience cash flow difficulties.
Administrators' statement of proposals (2023-06-07) · Companies House register