Dec 22 2005
Unwins has been a familiar feature of many high streets throughout London and the Home counties for many years and was incorporated in 1906.
Financial trouble had been brewing in the company for at least 4 years, with the turnover steadily declining as shown below:
Fiqures in '000's
Over the same years, the pre-tax profit declined as follows:
2002 - £1,005
2003 - £1,830
2004 - £1,878
There were a number of other signs that the company was in trouble, such as the 12 County Court Judgements (CCJs) outstanding. The first of these was filed in 2000 but the majority were filed in November and December 2005 to a total value of over £2 million. There were also 6 director resignations in 2005 and a total of 23 resignations since 1995.
Matthew Debbage, Head of Product and Marketing, ICC Credit commented; ‘spend on drinks accounted for 7.2% of all consumer spending in 2004. In spite of this, the retail drinks market is fiercely competitive and the high-street off-licence has to battle it out with the large, and often cheaper, supermarkets.’
He continued, ‘A reflection of this battle is that 4% of companies in this market are in liquidation and 9% have CCJs filed against them.’
To see full report on Unwins Limited click on the link below:
Related link: www.icc-credit.co.uk/documents/reports/Unwins_Ltd.html