WHAT has happened to Snowdrop Independent Living on Cogan Hill?

Shutters are down, phone lines are closed and the website is “undergoing maintenance”, which has all led people to fear the worse for the specialist mobility aids retailer.

And those fears have been realised, with Menzies LLP having reportedly been appointed the company’s administrators.

The retailer is said to have closed all seven of its stores.

Bethan Evans, business recovery partner at accountancy firm Menzies LLP said the business failed to hit targets.

"Having suffered financial difficulties and having sought advice from insolvency practitioners at Menzies LLP, regrettably Snowdrop Independent Living Ltd has ceased trading on January 30," said Ms Evans.

"All 37 employees have been made redundant with immediate effect. Regrettably, due to the challenging trading conditions, the business was failing to hit its revenue forecasts.

"We will continue to work with the directors to maximise value for creditors."

It’s yet another body blow for retail in Penarth.

M&Co, with a store in the town centre, recently announced administrators had failed to find a buyer for the business and it would be closing in Spring, with the closure of 170 branches across the UK, and the loss of nearly 2,000 jobs.

In December, Shaws Drapers’ branch on Glebe Street shut its doors for good two days before Christmas. The company had been trading in Wales for 106 years.

Penarth Times:

(Snowdrop has reportedly entered liquidation after failing to hit revenue targets)

In over two decades, Snowdrop grew from a single shop in Haverfordwest, where it was headquartered, to seven showrooms across the West Midlands and South Wales

Only in August 2022, David Morgan, managing director of Snowdrop, revealed the firm’s plans to invest in the company, with support from the Development Bank of Wales.