GD&C Ltd (12471082): administration
- Status
- Administration ended
- Administration began
- 2024-05-31
- Administrators
- Christopher Brindle, Richard Ian Williamson
- Administrators' firm
- Xeinadin
- Incorporated
- 2020-02-19
- Location
- Blackpool
- Industry
- 47810 Retail sale via stalls and markets of food, beverages and tobacco products
Why it went into administration
- HMRC / tax arrears
- Rising costs / inflation
- Weak consumer demand
- Funding withdrawn / unable to refinance
- Creditor pressure / legal action
- Weather / natural events
From the administrators' statement
The Company commenced trading at the beginning of 2020 from a home kitchen and sold its artisan baked goods via temporary pop ups and kiosks. Despite the COVID-19 pandemic and the Company being unable to benefit from any government financial support in terms of local area grants or bounce back loans, trade was initially successful. The Company reported a gross profit of £48,926 for year ended 31 March 2021.
Due to the increasing success of the business, the Company expanded and moved to a leasehold bakery and café premises at 103 High Street, Manchester in January 2022. The café expanded the food offering of the business and the bakery catered to trade customers and the ongoing demand for takeaways. This required a significant increase in staff as the Company was also still trading out of a kiosk at Ducie Street Warehouse.
Whilst turnover had rapidly increased since the opening of the café, so had the overheads such as utilities, stock and labour. In the financial year ended 31 March 2023 the Company's turnover had doubled, however a significant increase in the running costs resulted in a net loss of £53,792.
Administrators' statement of proposals (2024-06-26) · Companies House register