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 23rd Jan 2017

Textile & clothing trade fair Momad Metrópolis begins Feb 3

Spanish textile and clothing trade fair Momad Metrópolis will be held ...

Apparel/Garments | On 23rd Jan 2017

Amazon opening ninth fulfilment centre in Texas

Amazon, the world biggest online retailer is opening its ninth...

Textiles | On 20th Jan 2017

TEA expects budget to upscale textile skill industry

The Tiruppur Exporters’ Association (TEA) has requested the Central...

Interviews View All

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Kai Poehler
Voith Paper GmbH & Co. KG

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

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

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
January 2017

January 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