Equestrian Clearance Warehouse Ltd, which trades as online retailer Equestrian.com, has gone into administration after “cash flow difficulties” and falling sales, it has been confirmed.
KPMG was appointed as administrators to the Halifax-based business on 2 June, after which trading ceased and “the majority of” the company’s 12 members of staff were made redundant.
The company is now looking for a buyer for the business, including stock “not subject to title retention claims”, fixtures, fittings and IT systems, among other assets.
“This case demonstrates the pressure that cash flow difficulties can put on a business and its ability to trade,” said KPMG associate partner and joint administrator Howard Smith. “All parties interested in buying the business or its assets should come forward as soon as possible.”
The company, which was founded by Lorraine Meadowcroft, grew from a small tack shop to one of the UK’s largest online equestrian retailers.
Equestrian Clearance, later rebranded Equestrian.com, enjoyed success and also gave back to the sport, as the former title sponsor of the Hickstead Derby and the Liverpool International Horse Show, as well as sponsoring classes at Bolesworth International and the British Showjumping senior newcomers championship.
In 2014, the business won the SEIB British Equestrian Trade Association internet retailer of the year award, given to a business that offers outstanding customer service.
Held at the famous All England Jumping Course…
A long-running equestrian business goes into administration after…
At the time, Ms Meadowcroft said: “To hear one nominator said we offer unrivalled customer service and are always ready to help, with 365-day returns, while a judge commented that this is specialist retailing at its best, and staff showed a thorough knowledge of the products, enthusiasm for their subject and a light touch when it came to closing the sale – was one of the best moments in the history of the business.”