Aspen Phoenix Newco Limited (13131751): administration
- Status
- Administration ended
- Administration began
- 2023-01-31
- Administrators
- Kirstie Jane Provan, Mark Robert Fry, Gary Paul Shankland
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2021-01-13
- Location
- London
- Industry
- 47620 Retail sale of newspapers and stationery in specialised stores
Why it went into administration
- COVID-19
- HMRC / tax arrears
- Sustained trading losses
- Weak consumer demand
- Rising costs / inflation
- Supply chain disruption
- Funding withdrawn / unable to refinance
From the administrators' statement
The Company was incorporated on 13 January 2021 and is the only trading company in a wider group structure, operating as a gift, greetings card and stationary retailer, primarily through its retail portfolio of 106 leasehold stores which were trading as at the date of the Administrators’ appointment. The Company also traded from a number of concession outlets within major department stores in both the UK and the Republic of Ireland.
Initial purchase of the business
In January 2021, Paperchase Products Limited (“PPL”) entered administration and the business and assets of PPL were purchased by the Company, which was incorporated for this purpose. The Company’s secured debt provider was, at that time, Permira Capital (“Permira”) who had financed the purchase of the PPL business and assets out of administration.
Administrators' statement of proposals (2023-03-21) · Companies House register