Upholstered furniture manufacturer Celebrity has announced that JDP Furniture Group has officially exited its Company Voluntary Arrangement (CVA).
Back in 2020, the company entered into a CVA with its creditors to secure the future of the business after its parent company JDP Furniture Group entered administration a few months prior.
The administration ended during August 2022, moving into its own CVA agreement to rescue the business as a going concern.
The CVA has been completed more than a year ahead of schedule, marking the next chapter in the company’s growth plans.
In a latest update, Wayne Hollis, Managing Director at Celebrity Motion Furniture, confirmed the news: “Completing the CVA early is a significant milestone. It reflects our team’s dedication and allows us to fully focus on future growth. It also reassures stakeholders that Celebrity is in a strong financial position and moving forward with confidence.
“It’s a proud moment. Completing the CVA early shows just how far we’ve come. The entire team has contributed, and seeing that effort pay off—especially under challenging market conditions—is incredibly rewarding.
“We’ve been able to achieve this through disciplined financial management, strong sales, and strategic cost control. We’ve also maintained excellent relationships with customers and suppliers and made operational improvements that supported our progress.”
Detailed in Celebrity’s most recent filed accounts for the year ended 30 September 2024, total sales rose 7.4% to £17.6m, while pre-tax profit resulted at £1.1m, up 78%.
“This performance reflects the strength of our products and relationships, as well as our responsiveness to market trends,” Wayne added. “We’ve invested in enhancing production facilities, product development, and staff training too. These areas are crucial to maintaining our standards and supporting future growth.”
With a look to the future, Celebrity plans to continue its focus on innovation, expand its product offerings, and deliver excellent customer service. “We have exciting new features and designs in the pipeline and are gearing up for a key autumn sales period,” Wayne said.
Finally, Wayne revealed that he has taken full ownership of the business, which will further boost momentum. “For me, it represents both a personal commitment and a strategic opportunity,” Wayne said. “It enables faster decision-making and ensures continuity. For the business, it means we can act with agility, invest with confidence, and continue building momentum.
“We remain committed to British craftsmanship and continuous improvement. There’s a strong sense of momentum here at Celebrity, and we’re excited about the future.”
