PSL2021 Realisations Limited (SC285031): administration
- Status
- Administration ended
- Administration began
- 2020-11-19
- Administrators
- Anthony John Wright, Alastair Massey
- Administrators' firm
- FRP Advisory
- Formerly
- Peacocks Stores Limited; EWM (IP) Limited; Pacific Shelf 1316 Limited
- Incorporated
- 2005-05-19
- Location
- Aberdeen
- Industry
- 47710 Retail sale of clothing in specialised stores
Why it went into administration
- COVID-19
- Property / lease costs
- Sustained trading losses
- Weak consumer demand
- Funding withdrawn / unable to refinance
- Bad debts / customer insolvency
- Loss of a key customer, supplier or contract
From the administrators' statement
The Company is a fashion retailer of clothes and accessories which traded across the United Kingdom, Republic of Ireland and the Channel Islands, in addition to international concession partners. The main customer profile is the cost-conscious shopper shopping for themselves and their family.
The Company was incorporated on 19 May 2005. The Registered Office is at Waverley Mills, Langholm, Dumfriesshire, DG13 OEB. The primary office function for the business is located in Cardiff. The Company previously operated from a portfolio of 504 leased stores plus distribution centres which are based in Wales.
The Company had approximately 4,500 employees and had traded under the current ownership since 2012. The Company achieved annual turnover in excess of £350m. The managing director of the company is Stephen Simpson.
Administrators' statement of proposals (2021-01-14) · Companies House register