- Wednesday, April 24, 2024
By: Radhakrishna N S
CROYDON-based wholesaler, Hi-Line Wines, has gone into liquidation.
Managing Director Sharmmi Jeganmogan said: “Supermarkets have taken over the corner shops and off licences.”
“Every day shops are closing but new chain store branches are opening. My sales have gone down to less than half every month. We couldn’t keep up with the bills any more.”
According to the latest accounts filed with Companies House for the period to February 2018, Hi-Lines’ turnover was £22 million, up from £9.5m the previous year.
In the same year, profit before tax was £186,000, up from £172,000 in 2017.
After buying Hi Line in 2009, Jeganmogan grew the alcohol and soft drinks business five-fold from £4m to £20m.
The company joined Landmark Wholesale in 2011.
The Indian-origin woman became Landmark’s first-ever non-white female board member in 2017.
Landmark and Today’s Group merged in 2018 to form Unitas Wholesale.
