Simon Plant and Daniel Plant, directors of corporate recovery and business turnaround specialist SFP, have been appointed as joint administrators to Highlight Imports Ltd, which has collapsed after suffering a number of bad debts.
Yorkshire-based Highlight Imports was incorporated in 2004 and commenced trading in 2008 as an importer of household and other products for supermarkets and garden centres, continuing the trade of its predecessor, Home & Leisure Holdings Ltd. The company had a turnover ranging from £1.5m to £3m over recent years.
Historically, the business experienced one significant bad debt of approximately £280,000 in 2011 when Focus DIY entered into administration. In a statement, SPS said: ‘Highlight Imports experienced a number of bad debts dating back to 2011 that severely impacted on its cash flow that has never been fully recovered. We have subsequently completed the sale of the business and assets to a third party.’
