Lola's Cosmetics Ltd (12054389): administration
- Status
- Administration ended
- Administration began
- 2024-03-15
- Administrators
- Clive Morris
- Administrators' firm
- Begbies Traynor
- Formerly
- Eliburn Group Ltd
- Incorporated
- 2019-06-17
- Location
- Preston
- Industry
- 47750 Retail sale of cosmetic and toilet articles in specialised stores
Why it went into administration
- COVID-19
- Creditor pressure / legal action
From the administrators' statement
3.1 Creditor levels began to rise and various creditors began to issue threats of enforcement action.
3.2 By February 2024, it became clear that following the pandemic, sufficient new business could not be found quickly enough to justify continued trading. It was at this point when the Company directors sought professional insolvency advice.
3.3 A Notice of Intention to Appointment an Administrator was filed on 4 March 2024, which subsequently triggered an Interim Moratorium.
Administrators' statement of proposals (2024-05-17) · Companies House register