In the latest Insolvency Digest, creditors of 36 furnishing businesses entering liquidation or administration are expected to suffer a combined shortfall of £388.9m – largely driven by Carpetright as detailed below.
Zelf Hussain, Rachael Wilkinson and Peter Dickens, of PwC, were appointed as Joint Administrators of carpet and beds retailer Carpetright Ltd on 22 July 2024. First ranking preferential creditors – mainly employees owed £2.2m, are expected to be repaid from realised assets valuing £11.3m, which were attributed to the asset sale to Tapi Carpets and cash at the bank valuing £7.6m. Secondary creditor, the HMRC, owed £9.2m is expected to repaid from the remaining figure, leaving a shortfall of £48,000. Unsecured creditors are owed a combined figure of £213.8m, while a floating charge of £120m is also owed to secured creditor Nestware Holdings Limited. Included within the unsecured claims is £81.3m owed to Carpetright Eire, a further £54.7m owed to Nestware Holdings and £17.2m owed to Carpetright of London Ltd. Microsoft is also owed £3.1m, while Condor Carpets BV is owed over £1m. As for consumers, these are owed a combined sum of £7.5m. It is expected that creditors will suffer a total shortfall of £337.8m.
Colin Wilson and Emma Mifsud, both of Opus Restructuring LLP, were appointed as joint administrators of mattress manufacturer Joseph Furniture Ltd on 31 July 2024. Preferential creditor, the HMRC, is owed £400,000, while unsecured creditors are owed £2.1m. These included £750,000 owed to its landlord, £435,000 owed to Apollo Beds Ltd and £360,000 owed to Google. It is expected that creditors will suffer a total shortfall of £2.4m.
Simon Weir, of DSi Business Recovery, was appointed as liquidator of bed retailer Goldsmith Furnishings Ltd on30 July 2024. The business owed unsecured creditors £65,800 and included £22,800 owed to directors, as well as £40,000 owed to Lloyds Bank. It is expected that creditors will suffer a shortfall of the entire amount.
Timothy Corfield, of Griffin & King, was appointed as liquidator furniture manufacturer Oak Tree Upholstery Limited on 6 August 2024. The business owed preferential employee claims £2,800, while the HMRC is owed £3,000. Unsecured creditors are owed £63,000, with HSBC Bank owed £43,000 and employees owed a further sum of around £17,000. It is expected that creditors will suffer a shortfall of £69,000.
Joe Whiley, of Insolvency Direct Ltd, was appointed as liquidator of furniture retailer Doorbox Ltd on 9 August 2024. The business owed unsecured creditors a total of £57,000, which included over £50,000 to Santander Bank. It is expected that creditors will suffer a shortfall of £55,000.
Christopher Horner, of Robson Scott Associates Ltd t/a BusinessRescueExpert, was appointed as liquidator of furniture business In House Kitchens Ltd on 8 August 2024. The business owed unsecured creditors a total of £43,000, which included over £8,000 to PJH Debt and £5,000 to Court Enforcement Services. It is expected that creditors will suffer a shortfall of the entire amount.
Nimish Patel and Hasib Howlader, of Hudson Weir Limited, were appointed as joint liquidators of kitchen furniture manufacturer Russell J Milligan Ltd on 13 August 2024. The business owed preferential employee claims £4,000, while the HMRC is owed £176,000. Unsecured creditors are owed £70,000, with HSBC Bank owed £50,000 and the HMRC owed a further sum of around £17,000. It is expected that creditors will suffer a shortfall of £234,000.
Henry Page and Edward Ellis, both of Mercer & Hole, were appointed as joint liquidators of furniture retailer Moooi UK Limited on 12 August 2024. The business owed unsecured creditors a total of £143,000, which included over £80,000 to its landlord and £17,000 to the HMRC. It is expected that creditors will suffer a shortfall of the entire amount.
Emma Mifsud and Mark Ranson, both of Opus Restructuring LLP, were appointed as joint liquidators of kitchen furniture manufacturer Onestop Refinishers Ltd on 12 August 2024. The business owed preferential creditor, the HMRC, £39,000, while unsecured creditor claims totalled £49,000. It is expected that creditors will suffer a shortfall of £81,000.
Gareth Rusling and Phil Stone, of Begbies Traynor (Central) LLP, were appointed as joint liquidators for furniture manufacturer Contour Furnishings Limited on 29 August 2024. The business owed preferential employee claims £4,600, while the HMRC is owed £36,000. Unsecured creditors are owed £199,000. It is expected that creditors will suffer a shortfall of £202,000.
Amie Johnson and Yiannis Koumettou, of Begbies Traynor (Central) LLP, were appointed as joint liquidators of soft furnishings manufacturer Adam Linens Ltd on 10 September 2024. The business owed preferential creditor, the HMRC £318,000. Unsecured creditors are owed £1.1m with the HMRC owed a further £167,000 and directors owed £683,000. It is expected that creditors will suffer a shortfall of £1.4m.
Andrew Whelan and Richard Segal, of WSM Marks Bloom LLP, were appointed as joint liquidators of furniture wholesaler Cathy Oliver Interiors Ltd on 5 September 2024. The business owed preferential creditor, the HMRC £25,000. Unsecured creditors are owed £29,000 with the HMRC owed a further £8,000. It is expected that creditors will suffer a shortfall of £50,000.
Ian James Royle and David Adam Broadbent, both of Begbies Traynor (Central) LLP, were appointed as joint liquidators of mattress manufacturer Perfect Pillow Ltd on 5 September 2024. The business owed preferential employee claims £4,400, while the HMRC is owed £8,000. Unsecured creditors are owed £173,000. It is expected that creditors will suffer a shortfall of £182,000.
Yiannis Koumettou and Constantinos Pedhiou, of Begbies Traynor (Central) LLP, were appointed as joint liquidators of furniture retailer Brothers Furniture Limited, trading as Mobilyum Furniture, on 9 September 2024. The business owed preferential creditor, the HMRC £56,000. Unsecured creditors are owed £147,000 with directors owed £57,000. It is expected that creditors will suffer a shortfall of £197,000.
Paul George and Kate Cutler, both of Business Helpline Group, were appointed as joint liquidators of furniture retailer Steve Murphy Interiors Limited on 29 August 2024. The business owed preferential employee claims £8,000, while the HMRC is owed £12,000. Unsecured creditors are owed £135,000. It is expected that creditors will suffer a shortfall of £155,000.
James Fish and Craig Johns, of Cowgills Limited, were appointed as joint liquidators of furniture retailer Paul Anthony Furnishings Ltd on 29 August 2024. The business owed preferential employee claims £3,200, while the HMRC is owed £36,000. Unsecured creditors are owed £178,000 with Barclays Bank owed £34,000. It is expected that creditors will suffer a shortfall of £178,000.
Helen Whitehouse and Simon Thomas Barriball, of McAlister & Co Insolvency Practitioners Limited, were appointed as joint liquidators of furniture retailer The Furniture Store UK Ltd, trading as Wood Furniture Store & Interiors, on 30 August 2024. The business owed preferential creditor, the HMRC £11,000. Unsecured creditors are owed £37,000. It is expected that creditors will suffer a shortfall of £47,000.
Stuart Garner, of Garner Advisory Limited, was appointed as liquidator of furniture wholesaler Trade Furniture Outlet Ltd, trading as Chatsworth Furniture, on 5 August 2024. The business owed preferential creditor, the HMRC £4,000. Unsecured creditors are owed £105,000 with Lloyds Bank owed £34,000. It is expected that creditors will suffer a shortfall of £110,000.
William Turner and Peter Wastell, both of Verulam Advisory Limited, were appointed as joint liquidators of kitchen furniture manufacturer Kent and London Limited, trading as K & L Limited, on 15 August 2024. The business owed preferential creditor, the HMRC £272,000. Unsecured creditors are owed £102,000. It is expected that creditors will suffer a shortfall of £355,000.
Andrew Mark Bland and Janet Mayo, of DMC Recovery Limited, were appointed as joint liquidators of furniture business Chesterfield Manufacturing UK Limited on 22 August 2024. The business owed preferential employee claims £11,000, while the HMRC is owed £212,000. Unsecured creditors are owed £149,000 with Barclays Bank owed £35,000. It is expected that creditors will suffer a shortfall of £363,000.
Joe Whiley, of Insolvency Direct Ltd, was appointed as liquidator of soft furnishings manufacturer Taft’s Bespoke Interiors Ltd on 20 August 2024. The business owed unsecured creditors £40,000 with Metro Bank owed £37,000. It is expected that creditors will suffer a shortfall of £37,000.
Simon Weir, of DSi Business Recovery, was appointed as liquidator of furniture business Ava Home Furniture Limited on 16 August 2024. The business owed preferential creditor, the HMRC £125,000. Unsecured creditors are owed £500. It is expected that creditors will suffer a shortfall of £125,000.
Dominik Thiel-Czerwinke and Jamie Taylor, both of Begbies Traynor (Central) LLP, were appointed as joint liquidators of kitchen furniture manufacturer Just Fitted Kitchens.com Limited on 8 August 2024. The business owed unsecured creditors £79,000 with Barclay’s Bank owed £35,000. It is expected that creditors will suffer a shortfall of £82,000.
John William Butler and Andrew James Nichols, of Redman Nichols Butler, were appointed as joint liquidators of kitchen furniture manufacturer GQ Surface Solutions Ltd, trading as German Kitchen Installations, on 6 August 2024. The business owed preferential employee claims £16,000, while the HMRC is owed £90,000. Unsecured creditors are owed £353,000 with consumers owed £36,000. It is expected that creditors will suffer a shortfall of £440,000.
Grace Jones and David Perkins, both of Parker Andrews Limited, were appointed as joint liquidators of kitchen furniture manufacturer T&C Bespoke Kitchens Ltd on 16 August 2024. The business owed preferential employee claims £5,000, while the HMRC is owed £4,000. Unsecured creditors are owed £52,000 with HSBC Bank owed £7,000. It is expected that creditors will suffer a shortfall of £91,000.
Edwin D S Kirker, of Kirker & Co, was appointed as liquidator of furniture manufacturer Soundz Fishy Ltd on 13 September 2024. The business owed preferential employee claims £10,000, while the HMRC is owed £6,000. Unsecured creditors are owed £235,000, with Funding Circle owed £77,000 and employees owed a further sum of around £20,000. It is expected that creditors will suffer a shortfall of £249,000.
James Lumb and William Wright, both of Interpath Advisory, were appointed as joint administrators of tile and flooring retailer CTD Tiles Limited on 19 August 2024. The business owed preferential employee claims £637,000, while the HMRC is owed £2m. Unsecured creditors are owed £27.2m, with the trade owed £18.6m and employees owed a further sum of around £6.7m. It is expected that creditors will suffer a shortfall of £41m.
Gerald Irwin, of Irwin Insolvency, was appointed as liquidator of furniture manufacturer Anbercraft Ltd on 12 September 2024. Preferential creditor, the HMRC, is owed £7,700, while unsecured creditors are owed £58,000. These included £35,000 owed to employees. It is expected that creditors will suffer a total shortfall of £63,000.
Adam Nakar, of WSM Marks Bloom LLP, was appointed as liquidator of furniture retailer Scandi Lux Furniture Ltd on 22 August 2024. Preferential creditor, the HMRC, is owed £18,500, while unsecured creditors are owed £43,000. These included £21,000 owed to consumers. It is expected that creditors will suffer a total shortfall of £56,000.
Natalie Hughes, of Simply Corporate Limited, was appointed as liquidator of kitchen furniture retailer Hub Kitchen Design Ltd on 4 September 2024. The business owed the HMRC £5,000. Unsecured creditors are owed £68,000, with employees owed £10,000. It is expected that creditors will suffer a shortfall of £68,000.
Michael Durkan, of Durkan Cahill, was appointed as liquidator of soft furnishings manufacturer Bella’s Interiors Limited on 17 September 2024. The business owed preferential employee claims £4,700, while unsecured creditors are owed £65,000, with employees owed a further sum of around £36,000. It is expected that creditors will suffer a shortfall of £69,000.
Luke Venner and Malcolm Rhodes, both of Bishop Fleming LLP, were appointed as joint liquidators of furniture business KCM Kitchens Ltd on 13 September 2024. The business owed preferential employee claims £16,600, while the HMRC is owed £219,000. Unsecured creditors are owed £669,000, with intercompany loans valuing £236,000 and employees owed a further sum of around £144,000. It is expected that creditors will suffer a shortfall of £803,000.
Luke Venner and Malcolm Rhodes, both of Bishop Fleming LLP, were appointed as joint liquidators of furniture business Kettle Kitchens Limited on 13 September 2024. The business owed preferential employee claims £12,900, while the HMRC is owed £125,000. Unsecured creditors are owed £893,000, with 64 consumers owed a combined sum of £441,000 and employees owed a further sum of around £91,000. It is expected that creditors will suffer a shortfall of £1m.
Christopher Brooksbank, of CB Business Recovery, was appointed as liquidator of soft furnishings manufacturer Cosy Home Furnishings Limited on 17 September 2024. Preferential creditor, the HMRC, is owed £261,000, while unsecured creditors are owed £278,000. These included £36,000 owed to the Royal Bank of Scotland and £75,000 owed to Scottish Power Group. It is expected that creditors will suffer a total shortfall of £539,000.
Richard Cacho, of RCM Advisory, was appointed as liquidator of furniture retailer Andrew Elden Designs Limited on 19 September 2024. The business owed unsecured creditors a total of £164,000, which included £88,000 owed to DA Properties and £45,000 owed to The Symphony Group. It is expected that creditors will suffer a shortfall of the entire amount.
James Kaye and Nick Morgan, both of NTF Corporate Solutions Limited, were appointed as joint liquidators of furniture manufacturer Sitability Limited on 19 September 2024. Preferential creditor, the HMRC, is owed £6,700, while unsecured creditors are owed £131,000. These included £45,000 owed to a director, £22,000 owed to employees and £4,000 owed to consumers. It is expected that creditors will suffer a total shortfall of £138,000.
