Norwich Footwear Limited (12546138): administration
- Status
- Administration ended
- Administration began
- 2024-07-05
- Administrators
- Andrew Knowles, Andrew Poxon
- Administrators' firm
- Leonard Curtis
- Incorporated
- 2020-04-03
- Location
- Manchester
- Industry
- 46160 Agents involved in the sale of textiles, clothing, fur, footwear and leather goods
Why it went into administration
- COVID-19
- HMRC / tax arrears
- Supply chain disruption
- Pension deficit
From the administrators' statement
The Company was incorporated 3 April 2020 and commenced to trade shortly thereafter. Its principal activity was a supplier of branded footwear via online and concession stands.
The Company was funded by way of shareholder loans from Pavers Holdings Limited (“Pavers”), who hold security by way of a Debenture created on 31 March 2022. The sum due to Pavers as at 3 July 2024 was £1.1m, including interest
The Company had previously traded profitably with a turnover of c£3.6m recorded in the year ended 31 January 2022 with a net profit of cCE58k recorded. In the following year to 31 January 2023, turnover increased to c£3.75m and a further increase in net profit was recorded at c£201k. In the year ended 31 January 2024, turnover decreased to c£3.4m and a loss of c£E208k was recorded.
Administrators' statement of proposals (2024-07-24) · Companies House register