Fri, 24 Apr 2020 | ADMINISTRATION
Faversham-based diving retailer Simply Scuba, winner of the UK’s Diving Retailer of the Year ten years in a row, has appointed administrators.
Simply Group is well-known in the UK’s diving sector, having been trading for 25 years in Kent, and employs 32 staff.
In addition to the Simply Scuba brand, Simply Group also operates through other brands including Simply Swim and Simply Hike, specialising in outdoor clothing and equipment.
It is thought that the company has succumbed to the impact of coronavirus pandemic on retailers, however, reports indicate that the administrators are looking to sell the company, rather than cease trading entirely.
Administrators have asked for interested parties to submit their bids by Thursday April 30. There is expected to be considerable interest in the business from bidders, but it remains unclear whether a sale will be possible given the current economic climate.
Simply Scuba Ltd’s most recent balance sheet was filed to the year ending August 31 2018. At the time, the company reported having fixed assets of £423,126, up from £332,737 the year prior. Its current assets were listed at £1.66 million, slightly up from £1.65 million in 2017, while its net assets were £354,444, down from £571,839.
View the latest distressed UK businesses here.
The companies supply an array of gases to suit various applications, with the group’s offering comprising all types of argon, oxygen, acetylene, nitrogen, carbon dioxide, refrigerant gases, propane and butane.
LEASEHOLD
This Birmingham-based dealership presents an exciting opportunity to enter the premium used car market, with a strong niche in high-margin BMW, Audi, and Mercedes models.
LEASEHOLD
This business offers a unique opportunity to acquire two adjacent retail units in a high-footfall area within a busy Maidstone shopping mall, featuring a diverse range of products and services, including a Thornton’s franchise and greeting card and g...
LEASEHOLD
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.