Leicester clothing firm brought down by BHS debt
A Leicester clothing manufacturer has become the latest victim of the BHS downfall after it ceased trading with the loss of 24 jobs.
Patchez, which is based on Forest Road in Leicester, went into administration in June owing more than £1m.
The company counted Jane Norman, Next, TK Maxx and River Island among its customers – along with the troubled BHS.
Patchez was formed in 2011, but administrators from SFP in London say that trying to get a detailed history has been “problematic”. The current directors are named as Vivek Soni and Anand Vardhan who took over ownership of the company from previous director Rajeev Agnihotri in 2014.
That year and the next the company suffered £300,000 worth of bad debts, and in April this year another of £180,000 from BHS.
Administrators were brought in on 20 May, with Patchez owing nearly £1.22m. The company ceased trading on 26 May with all 24 staff being laid off.
Agnihotri made an offer for Patchez’ stock and it was sold to his company Computine Consulting for just under £200,000.
SFP have secured just £51,326 for unsecured creditors. An invoice discounting company, Marketinvoice, is owed £275,524. HMRC is owed £200,000.
