Samurai Apparel Limited (12845086): administration
- Status
- In administration
- Administration began
- 2025-01-27
- Administrators
- Colin David Wilson, Mark Siddall
- Administrators' firm
- Opus Restructuring
- Formerly
- Katana Sportswear Limited
- Incorporated
- 2020-08-28
- Location
- Milton Keynes
- Industry
- 32300 Manufacture of sports goods
Why it went into administration
- HMRC / tax arrears
- Cash flow / liquidity pressure
- Loss of a key customer, supplier or contract
From the administrators' statement
Due to the restructuring investments required to relaunch the business, the company started to suffer from temporary operating cash flow squeezes in the course of 2023. These became more severe during the course of 2024 and when the two largest customers in late Q4 2024 unilaterally decided to terminate their multi-year contracts from 2025, the company was left with a depressed revenue forecast that combined with the low business seasonality (i.e. Jan to Jun) meant that the director was not able to ensure going concern anymore.
The nature of issues the business faced were all related to working capital availability while returning to profitability following years of full restructuring and repositioning of the company business.
in 2024, the sole director took a number of actions to avoid the company’s insolvency; among these:
Administrators' statement of proposals (2025-03-24) · Companies House register