Online retail platform Downyourhighstreet.co.uk has gone into liquidation. “We are heartbroken and know this news is going to have a detrimental impact on the small businesses we have worked so hard to support,” states founder Daniel Whytock.
“While all communication will now be with the liquidator, it is our ultimate priority to support them to achieve a fast sale of the assets and clear the creditors debts.”
Among the independent gift retailers affected is Lark, which has 12 gift and lifestyle stores in and around South and West London. “This morning we received the extremely sad news that Down your High Street was going into liquidation,” co-founder Priya Aurora-Crowe told GiftsandHome.net.
“We had been trying to claim our money owed for over four months and will now be losing those funds. We are extremely frustrated as we can see that this move they have made today was already on the cards, yet they continued to take orders from small shops.”
Continued Priya: “We are fortunate that we are able to take this financial hit. However, after speaking to a few other smaller independents that have been involved in the scandal, they are far less lucky, one of which we know will be forced to go under.”
Daniel Whytock created website Yourhighstreet.com nine years ago, with a mission to support local retailers. The website was subsequently rebranded to Downyourhighstreet and focused on working with independent retailers to help them sell online, In 2019, with crowdfunding, the website went live. A Think Where You Shop campaign was launched during the pandemic.
“While sales declined, our costs grew and we are now at a stage where we cannot make enough revenue to pay retailers out and have tried every avenue to secure funding and grow sales to fix this problem,” states Daniel. “Sadly, the only option to avoid any further detriment to creditors is taking the steps ourselves to appoint a liquidator in the hope there may be some realisable assets to recover funds for creditors.”
As of yesterday, the platform stopped accepting orders.