The Idle MAN Limited (12170578): administration and why it failed

The Idle MAN Limited (12170578): administration

Status: Administration ended
Administration began: 2020-04-15
Administrators' firm: Deloitte
Formerly: OWL Newco Limited
Incorporated: 2019-08-22
Location: Birmingham
Industry: 47910 Retail sale via mail order houses or via Internet

Why it went into administration

COVID-19
Cash flow / liquidity pressure
Weak consumer demand
Property / lease costs
Sustained trading losses
Rising costs / inflation
Competition / price pressure

From the administrators' statement

“Joint Administrators’ appointment

pandemic, the Group was required to close all of .

its physical retail operations on 21 March 2020.

Administrators' statement of proposals (2020-06-18) · Companies House register

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The Idle MAN Limited (12170578): administration

Why it went into administration

From the administrators' statement

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The Idle MAN Limited (12170578)