Major UK furniture store, pizza company and 3 more in administration
A furniture store is one of the businesses that’s entered administration in recent weeks (Image: Getty)
This year so far has been tough for UK businesses, with many forced to close their doors or call in administrators. Recently, a furniture store, a pizza company and a therapy business have all had to file for administration.
There are many reasons a company might have to do this to save all or part of the business. Most commonly, it’s down to increased costs, such as energy bills, or reduced customer spending or footfall. Here are some of the retail administration news items that you might have missed in recent weeks:
Millenium Dough
After trading for more than three decades. Millennium Dough Company has closed its doors. The company specialised in making wholesale artisan frozen pizza dough from their West London base.
Working from Taunton Rd, Greenford, they had focused on using high-quality ingredients and traditional baking techniques, according to Best Food Importers.
“Their expertise lies in long fermentation, craft flours, and new product development, catering to the unique needs of restaurants and food service companies,” it said.
Formerly known as Millennium Food Service, the business had plenty of five-star Google reviews, with one noting they had “excellent, fantastic staff”.
A UK airline has also fallen into administration (Image: Getty)
European Cargo Ltd
This UK cargo airline has collapsed into administration, leaving 178 workers jobless. The company has ceased trading following the appointment of administrators on June 3.
The airline, which operated freight flights from Bournemouth Airport and recently launched services from Teesside Airport, blamed reduced flying activity and rising fuel costs for its downfall.
The collapse comes just months after European Cargo announced plans for a new base at Teesside Airport Business Park.
Barretts of Woodbridge
After 57 years in business, this popular furniture company was forced to call in administrators a few weeks ago.
The company, located in Suffolk, closed its store doors on May 7, following a stock-clearance sale, during which shoppers could get 30% off or more on all products.
The company confirmed that all outstanding orders would be honoured and delivered despite the business closure.
An engineering firm has also called in administrators (Image: Getty)
Capricorn Automotive Limited
The UK branch of an international engineering company with roots dating back more than 90 years has fallen into administration. Capricorn Automotive Limited, the British arm of German technology group Capricorn, appointed administrators at the end of May.
The company, based in Lutyens Industrial Centre in Basingstoke, manufactured engineering components for a range of industries. The site was the group’s sole UK operation. According to Companies House, Capricorn’s UK branch was incorporated in February 1992.
Banbury Therapy Group
The company has been put into administration after 17 years in business, thought to be changing to a not-for-profit model instead. The counselling and counselling training service appointed administrators last week.
Fortunately, there will be no impact on customers or jobs.
In a review, one person said the company is “wonderful”. On its website, it says: “We have been offering safe, effective psychotherapy, mental health support and counselling services in Banbury and to the North-Oxfordshire community since 2009. Originally based near the Horton Hospital on Oxford Road, we have now moved into the heart of Banbury, and our clients benefit from fully refurbished and soundproofed therapy rooms on Parsons Street.”
