Creditors of 17 furniture insolvencies owed over £5m

Creditors of 17 furniture business entering liquidation are expected to suffer a combined shortfall of £5.3m.

Simon Weir, of DSi Business Recovery, was appointed as liquidator of Leather Chesterfield Limited and House of Furniture (Yorkshire) Ltd, both owned by the same director, on 6 January 2023. Leather Chesterfield owed HSBC Bank a sum of £138,000, while £7,000 was owed to the HMRC. Unsecured creditor claims totalled £55,000, which was largely owed to the Royal Bank of Scotland at a figure of £50,000. It is understood creditors will suffer a shortfall of £200,000. As for House of Furniture, the retailer owed a further £12,000 to the HMRC and £40,000 to HSBC with creditors set to suffer a shortfall of £59,000.

Simon Carvill-Biggs and Miles Needham, both of FRP Advisory Trading Limited, were appointed as joint liquidators of KTCHNS Limited on 28 December 2022. The kitchen furniture manufacturer owed the HMRC £73,000, while unsecured creditors were owed £262,000, which included £92,000 of consumer claims. It is understood creditors will suffer a shortfall of £338,000.

Eileen Sale, of Sale Smith & Co. Limited, was appointed as liquidator of Danlee Upholstery, trading as Elmwood Upholstery, on 13 December 2022. The upholstery and wooden frames furniture business owed the HMRC £63,000, while unsecured creditors were owed £404,000. The company realised assets valuing £150,000, which is expected to settle the HMRC debt and leave around £72,000 for other creditors. It is therefore expected that unsecured creditors will suffer a shortfall of around £332,000. These claims included £141,000 relating to wages and redundancy claims, £35,000 owed to Barclays Bank and £183,000 owed to trade creditors.

Manufacturer of fitted furniture in kitchens and bedrooms, A&A Bespoke Furniture, has entered liquidation. Christopher Horner, of Robson Scott Associates, was appointed as liquidator of London-based A&A Bespoke Furniture Ltd on 22 December 2022. The company owed preferential creditor HMRC £160,000 ahead of the appointment, with just £6,800 available through company assets. Unsecured creditors are owed £56,000, which include claims of £20,000 to Barclays Bank and £22,000 owed to Altwood Bespoke. Creditors are expected to suffer a shortfall of £210,000.

Independent furniture retailer Dreamzone has entered liquidation. Christopher Brooksbank, of CB Business Recovery, was appointed as liquidator of Dreamzone Limited on 20 December 2022. Companies House documents state that the business owed HSBC Bank £36,000, Nimra Properties £23,000 and Ambers International £12,000. It is expected the creditors will suffer a shortfall of £75,000.

Independent furniture retailer Living Rooms Direct has closed after entering liquidation. John Bell and Toyah Poole, both of Clarke Bell Limited, were appointed as joint liquidators on 16 December 2022. Companies House documents indicate that creditors will suffer a shortfall of £71,000, with Barclays Bank owed £23,000. There are also two directors’ loans valuing around £23,000 each.

Tom Bowes and Andrew Rosler, both of Ideal Corporate Solutions, were appointed as joint liquidators of upholstery business Galaxy Contract Furnishings Limited on 19 December 2022. The company owed unsecured creditor Barclays Bank a sum of just over £45,000, with only £885 available from realised assets.

Beds wholesale business Sofa Shop Direct Limited has entered liquidation owing Lloyds Bank £40,000. Simon Weir, of DSi Business Recovery, was appointed as liquidator of Sofa Shop Direct Limited on 9 December 2022. It is expected that Lloyds Bank, being the only major creditor, will suffer a shortfall of the entire amount. Director, Christine Prashad is also named as a director of Love Beds Limited, which is currently a dormant company.

Independent beds retailer Kosybeds has been placed into liquidation owing creditors just over £60,000. Jamie Playford, of Leading, was appointed as liquidator of Liverpool-based Dunns Beds Limited, trading as Kosybeds, on 21 December 2022. Detailed in newly filed documents on Companies House, the business owed preferential creditor HMRC £4,500, while unsecured creditors are owed £56,000. These include £11,000 owed to its landlord, £30,000 owed to a third party loan, £9,000 to Liverpool City Council and £2,500 owed to Barclays Bank. It is expected that creditors will suffer a shortfall of £60,600.

Furniture repair and maintenance business Jay Heads Ltd has entered liquidation. Molly Monks, of Parker Walsh, was appointed as liquidator of Cramlington-based Jay Heads Ltd on 22 December 2022. Creditors are owed a figure north of £80,000, including £34,000 to the HMRC, £37,000 to Starling Bank and £5,600 to Morrells Wood Finishers. Creditors are expected to suffer a shortfall of £84,000.

Bespoke furniture manufacturer RJB Upholstery UK Ltd has been placed into liquidation. Robert Dymond and Fiona Grant, both of Wilson Field Limited, were appointed as joint liquidators of Crewe-based RJB Upholstery UK Ltd, trading as Bespoke Furniture Manufacturing, on 21 December 2022. The business owed almost £50,000 to the HMRC, as well as over £20,000 to Barclays Bank. The total of unsecured creditor claims valued £39,000, with creditors expected to suffer a shortfall of almost £85,000. Following the insolvency, the director has formed a new company Cheshire Custom Furniture Ltd, which was incorporated during October 2022.

Michael Durkan, of Durkan Cahill, was appointed as liquidator of furniture manufacturer Steps 2 Bed Limited on 16 January 2023. Upon appointment, the business owed £80,000 to the HMRC as well as £53,000 to trade claims. These included £40,000 owed to a directors loan. It is expected that creditors will suffer a shortfall of £126,000.

Steven Wiseglass, of Inquesta Corporate Recovery & Insolvency, was appointed as liquidator of furniture retailer Tallulah Bella Ltd on 16 January 2023. The retailer owed £150,000 to the HMRC as well as £164,000 to Sellersfunding International Portfolio. As for unsecured creditors, claims totalled just over £3m, including £1m to the trade, £1.8m to funders, £40,000 to banks and a further £30,000 to the HMRC. It is expected creditors will suffer a total shortfall of £3.3m.

Gareth Self, of Restart BTi, was appointed as liquidator of specialist furniture manufacturer MC Timber Products Ltd on 22 December 2022. The business owed the HMRC almost £22,000, as well as unsecured creditor claims of £201,000. These included £161,000 being owed to banks and financial instiuations, including £43,000 owed to NatWest and £68,000 owed to Nucleus Cash Flow Finance. It is expected creditors will suffer a shortfall of £220,000.

Christopher Horner, of Robson Scott Associates Ltd T/A BusinessRescueExpert, were appointed as liquidators of online furniture retailer Furniture Warehouse Yorkshire Limited on 17 January 2023. The business owed unsecured creditors a total of £66,000, with the majority being owed to Starling Bank at £40,000. It is expected that creditors will suffer a shortfall of the entire amount.

Michael Roome and Dean Nelson (IP No. 9443) of Smith Cooper, were appointed as joint liquidators of Lievens Furniture Limited on 3 January 2023. The business owed creditors over £200,000, which included £49,000 to Barclays Bank, £57,000 in a director’s loan and employee claims of £20,000. It is expected creditors will suffer a shortfall of £224,000.

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