Lumo Liquids Ltd – administration

Lumo Liquids Ltd, a Swansea-based vaping business, entered administration on 18 November. Mark Boughey and Conrad Pearson of Mazars were appointed joint administrators, and have continued to trade the company while a buyer is sought. The company lost contracts representing over 85% of its revenues when two of the firm’s key customers decided to move manufacturing and supply chains into mainland Europe. The lost sales could not be replaced quickly enough to offset trading losses, and the company’s directors resolved to appoint administrators to attempt to sell the business.