Wed, 06 May 2020 | ADMINISTRATION
Cheshire-based wholesaler Scott Brothers Limited (SBL) has gone into administration after its business was significantly impacted by the coronavirus pandemic. Patrick Lannagan and Conrad Pearson of Mazars LLP were appointed as joint administrators.
The company supplies household storage products such as vacuum storage bags, air coolers and dehumidifiers. In November 2018, it acquired its main competitor in the storage product space H&L Russel Limited.
It represents numerous household brands, primarily in the UK and Ireland, including Packmate, Honeywell, Décor, DomoPak, Rorets, Wax On Wax Off, Wo-Wo, Storeasy and Stanley. Its customer base includes independent retailers and distributors, as well as several core high street retailers and supermarkets.
Joint administrator Patrick Lannagan said: "SBL's business has been significantly impacted by the Covid-19 pandemic and unfortunately it has been necessary to make 15 redundancies, from an original staff of 21.”
"Trading continues at present in a limited form and we are seeking buyers for the business and assets."
Scott Brothers’ last financial statements were filed to the year ending September 30 2018. At the time of filing, the company held fixed assets of £17,916, up from £10,000 in 2017, and current assets of £1.25 million, slightly down from £1.33 million the year prior. The company opted not to file its statement of income and retained earnings at that time.
View the latest distressed UK businesses here.
An opportunity exists to purchase the business and assets of a retail and wholesale distribution of drylining & plastering tools via website/ phone / mail order, and the sale of tools and hardware on the high street.
The short notice opportunity currently exists to purchase this well-known business, together with its multiple brands, productions lines, stock and substantial income streams.
The company is an importer and supplier of hardwood products, catering primarily to sofa and bed manufacturers. Its products include birch frame stock, plywood, hardboard and bespoke furniture kits, and polished beech furniture feet.
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.