Thu, 13 Jan 2022 | ADMINISTRATION
Two Lancashire-based online retailers have fallen into administration, with Interpath Advisory set to continue trading the businesses while assessing options. The two businesses, Big Home Shop and Physioroom, both trade from leasehold premises in Padiham.
Big Home Shop sells outdoor equipment, garden furniture and general furniture items via various online channels, including Amazon. The second company, Physioroom, sells home exercise, injury prevention and recovery equipment through a dedicated website.
The administrations have been attributed to a range of problems, including financial struggles and stock troubles. International shipping issues led to stock problems at Big Home Shop and this in turn exacerbated existing financial challenges.
Physioroom, meanwhile, relied on Big Home Shop for several services which could no longer be provided. Accompanied by recent trading losses, this meant that the company became unable to fund its ongoing trade.
As a result, Rick Harrison and Howard Smith of Interpath Advisory have been appointed as joint administrators to both firms. The majority of the combined 35-strong staff have been retained to assist in trading the businesses while options are assessed, but 12 redundancies have been made.
Interpath Advisory Managing Director and joint administrator Rick Harrison commented: “Big Home Shop is a seasonal business. Unfortunately, the well-publicised international shipping delays seen across the globe in 2021 had a significant impact on the Company’s stock, which led to lower than usual trading through its peak season. We will continue to trade the business while all options are assessed.”
View the latest distressed UK businesses here.
Find online businesses for sale in the UK
Located within Linthorpe, a popular residential suburb of Middlesbrough in North Yorkshire in the North East of England. The business is prominently situated on the main road and easily accessible via local transport links with close proximity to the...
FREEHOLD
Explore the potential of acquiring a highly profitable, specialist vaping business with a robust customer base and multiple retail and online platforms. This opportunity offers excellent profitability and significant growth prospects for expanding re...
LEASEHOLD
The company supplies marketing and sales professionals, for both large corporate organisations and SMEs, with all their branded and promotional material needs from brochures, banners, and exhibition stands to branded pens, notebooks, power banks, and...
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.