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

Bathroom & Plumbing Supplies
Northamptonshire, UK Wide

Having been established since 1982, this bathroom and plumbing supplies business has grown under the ownership of our clients since it was purchased in 2007. This business boasts an envious reputation and a very strong repeat trade business, it is sa...

Asking Price: £1,100,000
Turnover: £1,146,075

Convenience & Supermarket Business
Walsall, West Midlands, UK

Convenience shop and accommodation available. Operating from a prominent residential trading location. No competition locally. Large Repeat Customer Base. Scope To Sub Let If Preferred. Free parking. Offers invited.

Asking Price: £295,000
Turnover: £884,000

Roller Shutter Door Business
West Midlands, UK

Long established business. Huge reputation and quality customer base. Strong gross profit achieved. Offers invited.

Asking Price: £420,000
Turnover: £430,000


View more businesses for sale

News Search

Latest News

 
05
 
Jun
 

Azzurri Group exploring options for sale | BUSINESS SALE

Azzurri Group has engaged advisers to explore a potential sa...

 
04
 
Jun
 

Frankie & Benny’s owner to permanently close 120 restaurants | BUSINESS NEWS

The Restaurant Group, which owns chains including Frankie & ...

 
03
 
Jun
 

28 Oddbins stores saved after acquisition by unnamed buyer | BUSINESS SALE

28 Oddbins stores will remain open after the off-licence ret...

Free guide: 10 Biggest Buyer Mistakes

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

Email


Related News

 
14
 
May
 

Sixth Signature Living hotel company goes into administration | ADMINISTRATION

Signature Living Coal Exchange Limited, the company behind t...

 
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