Major UK party retailer and wholesaler Peeks of Bournemouth has ceased trading, following the voluntary appointment of liquidator Portland Business Support.
Peeks, which had been a major name in the UK party industry since 1966, was most recently operating from a large store based in Bournemouth as well as an online retail service, both of which offered a wide range of party and celebration products.
Following a difficult three years due to uncertainty over Brexit, a business restructure was planned to be taking place throughout 2020, with a focus on winding up mail order stock and increasing focus on the retail store. Unfortunately, the ongoing nature of the Covid-19 trading restrictions (which has seen the Peeks store closed since 24 March) have made the business restructure and subsequent recovery impossible.
The liquidator’s statement of affairs shows trade creditors at £121,760.63, with a total creditor balance of £1,044,031.97.
The list of trade creditors was filed on 4 May 2020 as part of a statement of affairs, following standard liquidation procedure. A formal letter has been sent to all creditors notifying them of the situation.
All figures are correct at the time of publication.