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.
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