Sheffield candle retailer enters administration

Mon, 17 Jun 2019 | ADMINISTRATION



A shop retailing candle and gifts in Sheffield has collapsed into administration as a result of difficult trading conditions on the high street.

Despite being active for more than 20 years, Candletime (Meadowhall) Limited was forced to call in professional advisory firm and insolvency specialists Wilson Field to handle the administration process, with partners Kelly Burton and Lisa Hogg appointed as joint administrators.

Based in the Meadowhall Centre, the family-run company retailed a wide variety of candles, jewellery, glassware and decorative homeware accessories and gifts. Some of the major brands featured in the store include Yankee candle, East of India and Woodwick.

The associate director and licensed insolvency practitioner at Wilson Field, Kelly Burton, said: “As we have seen in the press in recent months, trading conditions in the retail sector are particularly challenging due to the increasing impact of internet sales on traditional retailers.

“In this case, the company has been a victim of ever decreasing footfall and the presence of large, national competitors operating close to the shop, which unfortunately has reduced revenues and created cashflow pressure.

“I am continuing trading activities in the short term in order to maximise realisations of the company’s stock and to this end, will be holding a retail sale from the unit. I encourage customers to visit the store to take advantage of the significant price reductions which are available following my appointment.”

Trading operations will continue in spite of the administration for customers to purchase Candletime’s remaining stock. A 50 per cent discount will be available at the store, which will only accept cash payments.

For more news stories about administrations click here. For all our administrations listings, click here.


Share this article



Latest Businesses for Sale

Licensed Convenience Retailer
Lancashire, UK Wide

Extremely attractive and highly profitable sub-Post Office and convenience store which is situated in an unopposed trading position in the highly desirable and village of Feniscowles, in a semi rural surrounding, close to Blackburn Town Centre and wi...

Asking Price: Offers Invited
Turnover: £416,000

LEASEHOLD


Licensed Convenience Shop
Manchester, UK Wide

Fantastic opportunity to purchase a busy licensed convenience store. The store is a popular local business located on the busy Moorside Road of Urmston. The business has been well-run by the current owners for twenty years and is now on the market a...

Asking Price: Offers Invited
Turnover: £390,000

LEASEHOLD


Supplier of Hand/Power Tools Bolts & Bearings
East Anglia, East of England, UK

100% of the issued share capital of this long time established Hand/Power tools, bearings, bolts, and welding business. The company provides an efficient, reliable bolts and bearings service in East Anglia. Offers invited.

Asking Price: £109,000
Turnover: £485,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
19
 
Sep
 

Smith & Williamson and Tilney to merge | MERGER

After revealing in August this year that talks were in place...

 
18
 
Sep
 

Infrastructure investment manager takes stake in LJLA | BUSINESS SALE

Infrastructure investment management group, Ancala Partners,...

 
17
 
Sep
 

Impact REIT snaps up Suffolk-based Cardinal Healthcare business | BUSINESS SALE

Impact REIT has successfully acquired Cardinal Healthcare, a...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
01
 
Mar
 

Electrical installer enters administration | ADMINISTRATION

An electrical installation services business based in Leeds ...

 
14
 
Aug
 

Store Media plc bought out of administration | BUSINESS SALE

Advertising company Store Media plc has been bought out of a...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources