Beds and furniture supplier collapses again

Beds and furniture supplier Serene has been placed into liquidation, a year on from its administration that saw its assets sold.

Back in 2023, Serene Beds and Furniture Limited entered administration after experiencing various challenges over a number of years, including rising costs and increased expenses.

Conrad Beighton and David Griffiths, both of Leonard Curtis, were appointed as joint administrators back then, with the company assets sold to Serene Sleep Group Ltd. Administrators achieved a sale of the business on 31 March 2023 for a sum of £100,000, with £50,000 paid on completion and the remaining balance of £50,000 to be paid on deferred terms. At this time, unsecured creditors suffered a shortfall of £1.5m. Read more here.

The purchaser was an external party who are owners of a local bedding company by the name of Sleep Revolution.

Just over a year on, Serene Sleep Group Ltd, which was incorporated in February 2023, has been placed into liquidation, with Tauseef Rashid and Rehan Ahmed, both of Quantuma Advisory Limited, appointed as joint liquidators on 29 May 2024.

Detailed in newly filed documents on Companies House, the business owes preferential employee creditor claims a total of £41,000, while the HMRC is also owed £103,000.

As for unsecured creditors, these totalled £514,000 with a further £102,000 owed to employees and £257,000 owed to connected companies. It is expected that creditors will suffer a shortfall of £590,000.

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