# The Edinburgh Knitwear Company Ltd (12849118)

> Why UK company 12849118 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/12849118

- **Status:** Administration ended
- **Administration began:** 2023-04-19
- **Administrators:** Howard Smith, Richard John Harrison
- **Administrators' firm:** Interpath Advisory
- **Incorporated:** 2020-09-01
- **Location:** Leeds
- **Industry:** 46420 Wholesale of clothing and footwear

## Why it went into administration

- Creditor pressure / legal action
- Funding withdrawn / unable to refinance

## From the administrators' statement

The Companies had been seeking to refinance their banking facilities since November 2022. During this period, a potential discrepancy within the Companies’ facilities was identified and accounts were frozen pending a full reconciliation.

The Companies immediately sought to accelerate their debt refinance options; however, given the Companies’ inability to access all available funds, at a time when cash reserves would already be typically lower due to trading seasonality, the Companies’ working capital position deteriorated and the Companies experienced increased creditor pressure.

The Companies worked with HSBC and HSBC IF during this period, with the Director investing further funds into the business (in addition to amounts released by HSBC IF and HSBC) to enable the Companies to meet critical payments whilst options were explored.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/12849118/filing-history/MzM3ODIyMDkzOWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/12849118

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.