Bespoke joinery and education furniture manufacturer Three Rooms Bespoke Joinery has entered administration.
Louise Freestone and Paul Mallatratt, both of Opus Restructuring LLP, were appointed as joint administrators on 30 June 2022.
The Nottingham-based business called in administrators due to major debtor, Caledonian Modular Ltd, going bust with the company being owed around £1m.
Administrators said that all staff were transferred to Three Rooms Design Ltd, a business under common ownership, to avoid any job losses.
“The Director of the business did not want his employees to suffer the impact of what had happened and covered the wages over the last couple of months,” Opus said.
The company boss, Simon Johnson also purchased some of the plant and machinery, while the remaining assets are likely to be sold under management of Opus.
“We are currently reviewing all the financial information. We will be looking to get the best possible outcome for creditors,” the administrators added.