Baby USB Ltd who were founded in 2002, went into Voluntary Liquidation on 24 February 2016. Whilst investigations took place their products were suspended from Sourcing City.
On completing our investigations we have established that there were no industry distributors or UK/international suppliers as creditors. The owner of Baby USB Ltd, Kashif Siddiquei is himself the second largest creditor after HM Revenue & Customs.
Our main concern for any company entering liquidation is any negative effect on companies within the trade, in this instance the liquidation has resulted in no losses for any companies in our industry.
A new company, Baby PB Ltd is now trading and their products are now back on Sourcing City.
Note: It is our policy not to promote ‘phoenix’ companies or their associated company directors for a minimum period of at least one year, or until such time as we consider the company is sufficiently robust to deal with our distributor partners. – In this instance this policy has not been applied as there were no industry distributors or UK/international suppliers as creditors.
Published on: March 22nd, 2016