Voyage Decoration Limited (SC161596): administration
- Status
- Administration ended
- Administration began
- 2019-03-22
- Administrators
- Alistair Mcalinden, Blair Carnegie Nimmo
- Administrators' firm
- KPMG
- Formerly
- Voyage Distribution Limited; Ptarmigan Contracts Limited
- Incorporated
- 1995-11-14
- Location
- Glasgow
- Industry
- 46410 Wholesale of textiles
Why it went into administration
- Cash flow / liquidity pressure
- Sustained trading losses
From the administrators' statement
Voyage Decoration Limited (the “Company”) was incorporated on 14 November 1995 as a wholesaler of textiles based in Glasgow.
The Company built a strong reputation within the market and was considered a leading UK fabric and homeware brand, selling a full lifestyle range of products across independent retailers and major store groups.
Business was seasonal, resulting in cash challenges during the summer months. Funding was secured through lending facilities from the Clydesdale Bank PLC (“the Bank’) to heip alleviate this seasonal cash flow pressure and manage working capital.
Administrators' statement of proposals (2019-04-09) · Companies House register