An online wholesaler has fallen into administration after 10 years in business.
UK-based Creoate, founded in October 2016, is an online wholesaler for independent retailers.
The site allows brands "the chance to sell directly to thousands of retailers around the world".
The Creoate website adds: "Sourcing unique treasures from homeware and gifting, to fashion and food, we provide a platform for trade between wholesalers and retailers of all shapes and sizes.
"With simple tools, communication and the security of trading through a platform, there is no limit to your wholesale or retail ambitions."
Starting with just a team of two, Creoate has expanded and now operates in 11 countries worldwide, earning positive reviews from users.
One customer said: "Love shopping on Creoate.
"So easy, one-stop shop full of fabulous brands.
"Can shop anytime, billing is simple and the range with small minimums is huge!
"It’s now my go-to place to look for great new indie brands."
Another described it as the "best sourcing tool for independents."
Creoate falls into administration after 10 years
Despite its growth and success, Creoate has now entered administration after 10 years of trading, according to Companies House records.
Grace Jones and Rishi Karia of Parker Andrews Limited were appointed as joint administrators on August 10, The Gazette added.
What happens when a company goes into administration?
When a company enters administration, it means that it is unable to pay expenses, debts, or other liabilities, according to SquareUp.com.
Companies House adds: "When a company goes into administration, they have entered a legal process (under the Insolvency Act 1986) with the aim of achieving one of the statutory objectives of an administration. This may be to rescue a viable business that is insolvent due to cashflow problems.
"An appointment of an administrator (a licensed insolvency practitioner) will be made by directors, a creditor or the court to fulfil the administration process."
A statutory moratorium is put in place once a company enters administration, giving it "breathing space" to allow for financial restructuring plans to be drawn up free from creditor enforcement actions.
A company can continue to trade while in administration, but daily management and control are handed over to the administrators.
Companies House continues: "Within 8 weeks it is the administrators’ role to formulate administration proposals.
"Creditors are then asked to vote by a decision procedure to approve the administrators’ proposals.
"If the administration involves a sale of all or part of the company’s business, the proceeds (after the costs of the procedure) will be distributed to creditors in a statutory order of priority."
Administration will end automatically after 12 months unless the administrator asks the court or creditors for an extension.
Through administration, a company can be:
- Rescued and passed back to the directors
- Enter liquidation
- Be dissolved
Other UK companies that have closed or entered administration/liquidation in 2026
It has been a tough year for the UK high street, with several other retailers entering administration or liquidation and others announcing widespread store closures.
Major high street brands LK Bennett, Claire's, and Quiz have been forced to close all their remaining stores after falling into administration.
UK fashion retailer Leading Labels is also set to close its remaining 15 stores after falling into liquidation in May.
Whitbread closed all its standalone UK restaurants earlier this month:
- Brewers Fayre
- Beefeater
- Bar + Block
- Table Table
- Cookhouse + Pub
TG Jones and the British Heart Foundation will also be closing around 150 stores each across the UK.
Wynsors World of Shoes is shutting 17 stores across the UK, with closing down sales already underway at several affected branches.
Other retailers have been forced to close stores this year, including:
Several UK travel companies have ceased trading or entered administration in 2026:
- Regen Central Ltd
- Gold Crest Holidays
- Asiara UK Ltd
- Simply Florida Travel Ltd
- Trav Expert Ltd
- Strachan Travel Ltd
- Travel Bespoke Ltd
- Global Vision International
- Ski Yodl Ltd
- TS Travels Group
- Yourtravelshop.com
- TS Travel Realisations Ltd
- Firefly Holidays
- Fraser Travel Ltd
- Golf Villa Rentals Ltd
- Barnes Worldwide Travel Ltd
Wayfairer Travel Limited has also suspended all services "until further notice" as it looks to appoint an administrator.
Meanwhile, four UK airlines have fallen into administration or liquidation:
- Ascend Airways (liquidation)
- EcoJet Airlines (liquidation)
- Zenith Aviation Limited (administration)
- European Cargo (administration)
UK delivery company Yodel is set to be phased out after being acquired by InPost.
It's also been reported that Morrisons is looking to sell some of its in-store pharmacies as it continues to cut costs.
Meanwhile, iconic fashion brand Nasty Gal has shut down its website after being sold by Debenhams in a deal worth around £12 million (US$16 million).
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It hasn't all been bad news for the UK high street, with several major brands announcing new store openings for 2026, including Joules, Aldi, M&S, and Superdrug.
Meanwhile, brands including Evans and Bodycare have returned to the UK high street this year after previously closing all their stores.
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