The franchise based in Norwich has closed owing £73,000 ($90,896/€84,933) to creditors.
The Cartridge World store in Norwich has entered liquidation, reported Eastern Daily Express, due to fierce online competition which squeezed its margins. The leased premises in Norwich closed its doors on 31 December 2016, owing £73,000 to creditors after being in business since 2002.
Part of the business was the refilling of cartridges and the sale of remanufactured cartridges at a reduced price, but Jamie Playford, of Leading Corporate Recovery, the company overseeing the insolvency, said that the failure of the store was due to competition of internet sales and large supermarkets, which meant that the “number of walk-in customers” had declined.
This reason and the reduction in the size of the cartridges meant that the shop was offering “lower value for money”, which meant that the store started to struggle to pay suppliers and so the decision was made to stop trading.