Children’s furniture retailer appoints debt management specialist

Children’s furniture retailer Room To Grow has appointed debt specialist Bell & Company to assist with outstanding debts owed to creditors.

Bell & Company was approached on 22 March 2023 following pressure from company creditors in relation to debts owed, with some dating back to December 2022.

Following the appointment, Bell & Company, acting on behalf of RTG Retail Limited, has tried to implement payment plans with suppliers due to the business not having enough funds to pay outstanding balances owed in full.

Detailed in communications seen by Big Furniture Group, it is understood that the company aimed to pay back one supplier £500 per week for a period of six weeks. This has been rejected by the supplier in this case.

“Upon the expiration of the above repayment plan, our client will look to either increase the weekly payments or satisfy the outstanding balance in full,” Bell & Company said in an email. “As explained, our client has freed up the above cash to offer and has prioritised the debt in light of the threats of winding up.

“Our client has taken steps to resolve this matter amicably through a repayment plan as there are insufficient funds to make payment in full.”

It is also understood that The Children’s Furniture Company, also owned by the same director as Room To Grow, has appointed Bell & Company to assist with debt management following further creditor pressure.

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