Remnant Kings Central Limited (SC107879): administration
- Status
- Administration ended
- Administration began
- 2020-03-24
- Administrators
- Alistair Mcalinden, Blair Carnegie Nimmo
- Administrators' firm
- KPMG
- Formerly
- Nice Fabrics Limited
- Incorporated
- 1987-11-26
- Location
- Glasgow
- Industry
- 47510 Retail sale of textiles in specialised stores
Why it went into administration
- Sustained trading losses
- COVID-19
- Weak consumer demand
- Cash flow / liquidity pressure
- Property / lease costs
- Shift to online / high-street decline
- Brexit
From the administrators' statement
The Remnant Kings business was originally established in 1946 as a Partnership. [n the late 1980s, the business was sub-divided into three legal entities (each owned by members of the Partners’ families), primarily, on a geographical basis. The Company was incorporated in 1987 to operate the business based in west and central Scotland.
The Company specialised in retail of fabric and haberdashery goods for curtains, blinds, soft furnishings, dressmaking and quilting. Operating, historically, from a chain of stores, the Company also sold fabric via its website, with its principal customer base comprising:- the general public; small businesses; and local authorities.
Growth of the retail market during the 1990s and early-2000s allowed the Company to build a large and loyal customer base and to deliver profitable trading performance. At its peak, the Company employed approximately 80 staff, trading from 10 stores.
Administrators' statement of proposals (2020-05-11) · Companies House register