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.”
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