South Bridge Retail Scotland Limited (SC429944): administration
- Status
- Administration ended
- Administration began
- 2015-04-02
- Administrators
- Antonia Susan Mcintyre, Maureen Elizabeth Leslie
- Administrators' firm
- Mazars
- Incorporated
- 2012-08-08
- Location
- Glasgow
- Industry
- 47190 Other retail sale in non-specialised stores
From the administrators' statement
The statutory information for the Company is at Appendix II.
The Company was incorporated in August 2012, following a restructuring of its trading operations. The trading operations comprised multi branded retail outlets and franchise stores which sold G Star branded goods. The restructuring separated the two aspects of the business.
South Bridge Retail Scotland Limited was responsible for operating the G Star franchised and operated from 3 retail outlets in Multrees Walk, Edinburgh, and Braehead and the St Enoch Centre in Glasgow. The Company did not use bank finance but was completely reliant on the support of of the Dutch Parent company, G Star Raw, which provided a line of creditfor the supply of all goods to be sold from the franchise stores. These stores were not performing to the expectations of the Dutch parent and, despite efforts to tum the business around in the preceding 2 years, performance did not improve. In March 2015, G Star Raw gave notice to the Company that it was withdrawing its support. Without that support, the Company's directors had no choice but to put the Company into administration. The Notice of appointment was filed in the Court of Session on 2 April 2015.
Administrators' statement of proposals (2015-05-26) · Companies House register