Mcewens of Perth Limited (SC046297): administration
- Status
- Administration ended
- Administration began
- 2016-03-24
- Administrators
- Blair Carnegie Nimmo, Gerard Anthony Friar
- Administrators' firm
- KPMG
- Incorporated
- 1969-02-01
- Location
- Edinburgh
- Industry
- 47190 Other retail sale in non-specialised stores
Why it went into administration
- Funding withdrawn / unable to refinance
- Sustained trading losses
From the administrators' statement
The Company was incorporated on 1 February 1969 and traded as a department store from premises in Perth, Oban and Ballater.
Although the Company had traded successfully in the past, the Company had incurred losses in recent years. For the year ended 31 January 2015, the Company reported a turnover of £5.3 million and made a loss of £65,000. The Company is a wholly owned subsidiary of McEwens Direct Limited.
2.2. Funding and financial position of the Company
Administrators' statement of proposals (2016-05-20) · Companies House register