Home / Knowledge / News / Textiles / Smiths of Peterhead slips into administration over tax liability
Smiths of Peterhead slips into administration over tax liability
11
Feb '11
Smiths of Peterhead, has been placed under an administrator after it failed to pay a tax bill.

The textile firm which dates back to 1818, has engaged Begbies Traynor to carry on its administration.

It is obvious that, the firm could not strike a consensus with Her Majesty's Revenue and Customs over a repayment proposal for a sum of over £120,000, which included tax payments for two years.

None of the 50 employees of the firm have been laid off, as the firm still continues to be in business, while the search for a buyer is still going on.

The company is engaged in production of woollen fabrics and knitwear yarns and has several high- end fashion houses like Gucci, Prada and Ralph Lauren in its clientele.

Thomas and Joshua Smith instituted the firm, which till 2005 traded in the name of Thomas Smith & Co.

In 2008, the firm relocated from its Kirkburn Mills location, and now has its establishments at Milladen Mill, Buchan Braes, Mintlaw and Boddam.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 25th Mar 2017

GST to positively impact retail value chain: CBRE

The implementation of the Goods and Services Tax (GST) bill in India...

Textiles | On 25th Mar 2017

MEGlobal to build first ever US MEG plant

Monoethylene glycol (MEG) producer MEGlobal plans to construct a new...

Courtesy: Ulster Carpet

Textiles | On 25th Mar 2017

Ulster Carpets acquires Griffith Textile Machines

Northern Ireland based manufacturer of carpets, Ulster Carpets said...

Interviews View All

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search