In the latest Insolvency Digest, creditors of 32 furnishing businesses entering liquidation or administration are expected to suffer a combined shortfall of £13.4m.
Oliver Collinge and James Sleight, of PKF Littlejohn Advisory Limited, were appointed as joint liquidators of bed and mattress retailer Crumple & Co Limited on 17 June 2024. The business owed preferential creditor, the HMRC, a sum of £15,800, while unsecured creditor claims valued £155,000, including £35,000 owed to Barclays Bank, £37,000 to directors and £11,000 owed to employees. It is expected that creditors will suffer a shortfall of £166,000.
Darren Brookes, of Milner Boardman & Partners, was appointed as liquidator of kitchen furniture manufacturer Richard James Handmade Limited on 26 July 2024. The business owed preferential creditor, the HMRC, a sum of £7,400, while unsecured creditor claims valued £156,000, including £75,000 owed to Barclays Bank and £23,000 to a customer deposit. It is expected that creditors will suffer a shortfall of £164,000.
Thomas D`Arcy and Christopher Latos, of White Maund, were appointed as joint liquidators of beds retailer Sussex Beds (Dover) Ltd on 26 July 2024. The business owed preferential creditor, the HMRC, a sum of £3,900, while unsecured creditor claims valued £192,000, the majority of which is owed as an intercompany debt of £168,000. It is expected that creditors will suffer a shortfall of £190,000.
Colin Wilson and Emma Mifsud, both of Opus Restructuring LLP, were appointed as joint administrators of beds and mattresses retailer Bedworld Factory Shop Limited on 10 July 2024. As for creditors, preferential creditor, the HMRC, is owed £156,000, while unsecured creditors are owed £330,000, which included a combined sum of £99,000 owed to nine councils and £185,000 owed to the trade. It is expected that creditors will suffer a shortfall of £404,000.
Neil Money and Steven Glanvill, both of CBA Business Solutions, were appointed as joint administrators of furnishings manufacturer Perkins Stockwell & Co, Limited on 30 May 2024. Preferential creditor, the HMRC is owed £115,000, while unsecured creditors are owed £172,000, which included a director’s loan of £97,000 and a further £50,000 owed to employees. It is expected that creditors will suffer a shortfall of £280,000.
Allan Cadman and Charles Brook, both of Xeinadin Corporate Recovery Limited, were appointed as joint liquidators of furniture retailer Eastsleep Limited, trading as Peter Green Furniture, on 26 June 2024. The business owed preferential creditor, the HMRC, a sum of £130,000, which is expected to be largely repaid from realised assets valuing £118,400. Unsecured creditor claims totalled £823,000, which included £229,000 owed to employees, £110,000 owed to NatWest Bank, £65,000 owed to HSBC Bank and over £116,000 owed to 84 combined consumer claims. Shareholders are owed £1.1m, while a number of other trade creditors are owed significant sums, which includes AIS, owed £111,000, and Furlong Carpets, owed £97,000. It is expected that creditors will suffer a shortfall of just over £2m.
Richard Marchinton, of Conselia Limited, was appointed as liquidator of carpet retailer Let’s Pay Weekly Ltd on 16 July 2024. The business owed preferential creditor, the HMRC, a sum of £142,000, while unsecured creditor claims valued £890,000. These included £210,000 owed to Funding Circle, £374,000 owed to Hanover Carpets and £26,000 owed to Santander Bank. It is expected that creditors will suffer a shortfall of just over £1m.
Colin Wilson and Ian McCulloch, both of Opus Restructuring LLP, were appointed as joint administrators of flooring wholesaler Selby Contract Flooring Limited on 16 July 2024. Preferential creditor, the HMRC, is owed £104,000 and is expected to be partly repaid from realised assets valuing £46,000. Unsecured creditor claims totalled £1.1m and included almost £500,000 owed in loans. It is expected that creditors will suffer a shortfall of £1.3m.
Ninos Koumettou and Yiannis Koumettou, both of Begbies Traynor (Central) LLP, were appointed as joint liquidators of children’s furniture retailer RTG Retail Limited, trading as Room To Grow, on 23 July 2024. The business owes preferential creditor, the HMRC, a sum of £86,000, while unsecured creditors are owed a combined figure of £598,000. These include £283,000 owed to banks and financial firms, such as Funding Circle, owed £190,000, Paypal Cash Advance, owed £39,000, and American Express, owed £36,000. Other trade creditors are owed a combined sum of £204,000, while one employee is owed £32,000 as well as a family loan of £50,000. It is expected that creditors will suffer a shortfall of £681,000.
Michael Roome and Dean Nelson, of PKF Smith Cooper, were appointed as joint administrators of furniture manufacturer Conker Bespoke Furniture Limited on 2 July 2024. The business owed preferential creditor, the HMRC, a sum of £648,000, while unsecured creditor claims valued £1.4m. These included £365,000 owed in bank loans and £947,000 owed to the trade. It is expected that creditors will suffer a shortfall of £2m.
Andrew Bailey and Martin Armstrong, both of Turpin Barker Armstrong, were appointed as liquidators of furniture business Joat London Ltd on 6 June 2024. The business owed preferential creditor, the HMRC, a sum of £21,000, while unsecured creditor claims valued £69,000. These included a further £36,000 owed to the taxman. It is expected that creditors will suffer a shortfall of £87,000.
Andrew Ryder, of JT Maxwell Ltd, was appointed as liquidator of wholesaler Lumenlinks Ltd on 28 June 2024. The business owed unsecured creditors £64,000 and included £39,000 owed to directors. It is expected that creditors will suffer a shortfall of the entire amount.
Andrew Beckingham and Sean Ward, both of Leonard Curtis, were appointed as joint liquidators of furniture retailer Nine Schools Ltd on 3 July 2024. The business owed HSBC bank a sum of £65,000, while unsecured creditor claims valued £7,000. It is expected that creditors will suffer a shortfall of £72,000.
Gary Pettit, of PBC Business Recovery & Insolvency Limited, was appointed as liquidator of 1st Choice Stock Limited, trading as Simply Furniture, on 5 July 2024. The business owed preferential creditor, the HMRC, a sum of £7,000, which is expected to be repaid from realised assets valuing £19,000. Unsecured creditor claims valued £185,000 and included a bounce bank loan of £36,000. It is expected that creditors will suffer a shortfall of £174,000.
Timothy Corfield, of Griffin & King, was appointed as liquidator of glass furniture manufacturer Glaast Ltd on 16 July 2024. The business owed preferential creditor, the HMRC, a sum of £142,000, while unsecured creditor claims valued £882,000. It is expected that creditors will suffer a shortfall of £992,000.
Simon Barriball and Sandra McAlister, both of McAlister & Co Insolvency Practitioners Limited, were appointed as joint liquidators of furniture restoration business Louisa Grace Interiors Limited on 2 July 2024. The business owed preferential creditor, the HMRC, a sum of £6,200, while unsecured creditor claims valued £290,000, including a director’s loan of £70,000 and £42,000 owed to Barclays Bank. It is expected that creditors will suffer a shortfall of £291,000.
Jamie Playford, of LEADING, was appointed as liquidator of carpet retailer Paradise Carpets & Furniture Limited on 3 July 2024. The business owed preferential creditor, the HMRC, a sum of £26,000, while unsecured creditor claims valued £855,000, including a director’s loan of £695,000 and £106,000 owed to finance firms. It is expected that creditors will suffer a shortfall of £882,000.
Philip Nunney and Ashleigh Fletcher, of Begbies Traynor (Central) LLP, were appointed as joint liquidators of furniture manufacturer Trade Furniture Sales Ltd on 4 July 2024. The business owed preferential creditor, the HMRC, a sum of £12,000, while unsecured creditor claims valued £196,000, including a director’s loan of £23,000 and £29,000 owed to employees. It is expected that creditors will suffer a shortfall of £213,000.
Gareth Prince and Mark Malone, both of Begbies Traynor (Central) LLP, were appointed as joint liquidators of carpet retailer Install-A-Floor Limited on 8 July 2024. The business owed preferential creditor, the HMRC, a sum of £36,400, while unsecured creditor claims valued £135,000, including £43,000 owed to employees and £32,000 owed to Lloyds Bank. It is expected that creditors will suffer a shortfall of £171,000.
Sean Williams and Phil Deyes, both of Leonard Curtis, were appointed as joint liquidators of Online Marketing Support Limited, trading as Nabru, a manufacturer and retailer of self assembly sofas, on 3 July 2024. The business owed preferential creditor employee claims £29,000, while the HMRC is owed £91,000. As for unsecured creditors, claims valued £464,000, including £59,000 owed to consumers and a further £127,000 owed to employees. It is expected that creditors will suffer a shortfall of £544,000.
Andrew Davenport, of Maxim IP Limited, was appointed as liquidator of carpet retailer N&N Carpets Limited, trading as United Carpets and Beds, on 10 July 2024. The business owed preferential creditor, the HMRC, a sum of £49,000 and are expected to suffer a shortfall of £44,000 due to only £5,000 being available from realised assets.
Christopher Horner, of Robson Scott Associates T/a Businessrescueexpert, was appointed as liquidator of furniture manufacturer Grover & Shaw Ltd on 16 July 2024. The business owed unsecured creditors £5,500, including £4,700 owed to the HMRC. It is expected that creditors will suffer a shortfall of the total amount.
Engin Faik, of Cornerstone Business Turnaround and Recovery Limited, was appointed as liquidator of furniture business RJ Fabrication & Design Ltd on 22 July 2024. The business owed preferential creditor, the HMRC, a sum of £12,900, while unsecured creditor claims valued £136,000, including a connected company loan of £90,000. It is expected that creditors will suffer a shortfall of £144,000.
Claire Dwyer, of Jones Lowndes Dwyer LLP, was appointed as liquidator of fitted furniture business Robert James Fitted Furniture Limited on 22 July 2024. The business owed preferential creditor, the HMRC, a sum of £164,000, while unsecured creditor claims valued £275,000, including £45,000 owed to consumers and £29,000 owed to NatWest Bank. It is expected that creditors will suffer a shortfall of £432,000.
Tauseef Rashid and Rehan Ahmed, both of Quantuma Advisory Limited, were appointed as liquidators of furniture manufacturer Decor Doors Ltd on 19 July 2024. The business owed preferential creditor, the HMRC, a sum of £90,000, while unsecured creditor claims valued £212,000, including a director’s loan of £104,000 and £50,000 owed to Lloyds Bank. It is expected that creditors will suffer a shortfall of £303,000.
Jamie Playford, of Leading, was appointed as liquidator of soft furnishings manufacturer Foam Superstore Ltd on 24 July 2024. The business owed unsecured creditor claims £60,000, including a £57,000 owed to Barclays Bank. It is expected that creditors will suffer of the entire amount.
Adam Price and Lane Bednash, both of CMB Partners UK Limited, were appointed as joint liquidators of office renovation, relocation and furniture supply business TheSpaceCompany Limited on 24 July 2024. The business owed preferential creditor, the HMRC, a sum of £40,000, while unsecured creditor claims valued £197,000, including £33,000 owed to Funding Circle and £19,000 owed to HSBC Bank. It is expected that creditors will suffer a shortfall of £236,000.
Andrew Knowles and Daniel Ormerod, both of Leonard Curtis, were appointed as joint liquidators of furniture retailer RSI Furniture Limited, trading as Rankin Styles Interiors, on 30 July 2024. The business owed preferential creditor, the HMRC, a sum of £36,000, while unsecured creditor claims valued £158,000, including £17,000 owed to NatWest Bank and £64,000 to employees. It is expected that creditors will suffer a shortfall of £164,000.
Martin Buttriss and Carolynn Best, both of Begbies Traynor (Central) LLP, were appointed as joint liquidators of removal business Office & Furniture Solutions Ltd on 29 July 2024. The business owed preferential creditor employee claims £11,600, while the HMRC is owed a sum of £5,800. Unsecured creditor claims valued £220,000, including £128,000 owed to employees. It is expected that creditors will suffer a shortfall of £237,000.
Brendan Hogan, of Cromwell & Co Insolvency Practitioners, was appointed as liquidator of online furniture retailer Global Furniture Brands Ltd, trading as Icona Furniture / London Furniture Online, on 30 July 2024. The business owed unsecured creditors £36,000, which were largely owed to Lloyds Bank with a figure valuing over £21,000. It is expected that creditors will suffer a shortfall of £34,000.
Gareth Lewis and Matthew Russell, both of Lewis Business Recovery & Insolvency, were appointed as joint liquidators of carpet and beds retailer Hamer’s Carpets Limited, trading as United Carpets & Beds, on 26 July 2024. The business owed preferential creditor, the HMRC, £35,000, while unsecured creditors are owed £38,000, including £24,000 owed to Lloyds Bank. It is expected that creditors will suffer a shortfall of £70,000.
James Kaye and Nicholas Morgan, of NTF Corporate Solutions Limited, were appointed as joint liquidators of kitchen furniture manufacturer Kite Creative Limited on 2 August 2024. The business owed preferential creditor, the HMRC, £9,000, while unsecured creditors are owed £156,000, including £105,000 owed to Funding Circle. It is expected that creditors will suffer a shortfall of £158,000.
