Independent furniture retailer Peter Green Furnishers owed unsecured creditors almost £1m ahead of its collapse.

Allan Cadman and Charles Brook, both of Xeinadin Corporate Recovery Limited, were appointed as joint liquidators of Eastsleep Limited, trading as Peter Green Furniture, on 26 June 2024.

Detailed in documents filed on Companies House, 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.

Upon its closure, bringing an end to its 68-year history, Allan Cadman a Licenced Insolvency Practitioner with Xeinadin Corporate Recovery, said: “The retailer ceased trading on Friday 24th May, despite various attempts to sell the business as a going concern. Peter Green had no option but to cease trading due to insolvency.”