In the latest Insolvency Digest, creditors of 18 furniture businesses entering liquidation or administration are expected to suffer a combined shortfall of £18.3m.

David Smithson and Michael Fortune, both of Leonard Curtis, were appointed as joint liquidators of carpet and flooring retailer The Carpet Shop Eastleigh Limited on 6 March 2023. The business owed unsecured creditors over £50,000, which included £22,000 to Lloyds Bank, £7,000 to its landlord and £10,000 to the trade. Creditors are expected to suffer a shortfall of £50,400.

Mark Supperstone and Ben Woodthrope, both of ReSolve Advisory, were appointed as joint administrators of Scotts Limited, trading as Scotts of Stow, Gift Discoveries, Expert Verdict and Bloom, on 9 March 2023. The business owed secured creditor Arbuthnot Commercial Asset Based Lending Limited £1.8m and could receive an 80-100% recovery, while preferential creditors, employees owed £22,000 and the HMRC, owed £1.1m, are expected to be repaid in full. As for unsecured creditors, owed a combined figure of £8.2m from 508 claims, it is expected that they will suffer a shortfall of the entire amount.

Gemma Roberts and Emma Dowd, both of Wilson Field Limited, were appointed as joint liquidators of furniture retailer Silke Design Ltd on 10 March 2023. The business owed £26,000 to the HMRC as a preferential creditor, with a further £16,000 as an unsecured creditor. Trade creditors are owed a sum of £50,000. It is expected that creditors will suffer a shortfall of £93,000.

Stephen Lancaster, of Lucas Ross Limited, was appointed as liquidator of furniture manufacturer Lansdown Goodman Cabinets Limited on 8 March 2023. The company owed £89,000 to the HMRC as a preferential creditor, while also £4,500 to employees. Unsecured creditors are owed £124,000 with £50,000 owed to HSBC Bank and £43,000 to employee redundancy claims. It is expected that creditors will suffer a shortfall of £217,000.

Zane Collins, of Insolvency One Limited, was appointed as liquidator of furniture manufacturer Trentside Design Ltd, trading as Trentside Furniture, on 6 March 2023. The company owed unsecured creditors a total of £106,000, which included £57,000 to banks, £32,000 to director’s and £14,000 to employees. Creditors are expected to suffer a total shortfall of £110,000.

Stephen Penn, of Absolute Recovery Limited, was appointed as liquidator of OLDMSO1351161009032023 LTD, trading as Maker&Son and formerly known as Decisions Direct Ltd / Maker&Son Ops Ltd, on 9 March 2023. Unsecured creditors are owed £4.9m, while 32 employees are owed a combined sum of £22,000. In total, creditors are expected to suffer a shortfall of £5m.

Constantinos Pedhiou and Yiannis Koumettou, both of Begbies Traynor (Central) LLP, were appointed as joint liquidators of furniture business Lux Sofas London Ltd on 7 March 2023. The business owed Starling Bank £50,000 as its main creditor, which is expected to suffer a shortfall of the entire amount.

Simon Weir, of DSi Business Recovery, was appointed as liquidator of bed manufacturer Glorious Beds Ltd on 9 March 2023. The business owed £19,000 to unsecured creditors, with £15,000 being owed to the Home Office and is expected to suffer a shortfall of the entire amount.

Simon Weir, of DSi Business Recovery, was also appointed as liquidator of bed manufacturer Comfort Night Sleep Ltd on 9 March 2023. The business owed £10,000 to the HMRC as a preferential creditor, while unsecured creditors are owed £101,000. These included £46,000 owed to banks and £49,000 owed to the trade. Creditors are expected to suffer a shortfall of £112,000.

Molly Monks, of Parker Walsh, was appointed as liquidator of fitted bedroom furniture business Smartglide Interiors Limited on 8 March 2023. The business owed preferential creditors £148,000, as well as £439,000 to unsecured creditors, resulting in a total shortfall of £588,000.

Molly Monks, of Parker Walsh, was also appointed as liquidator of Monarch Fitted Interiors Limited on 8 March 2023. In total, creditors are expected to suffer a shortfall of £443,000, largely owed to the HMRC, which represents around half of this figure.

Peter Wastell and William Turner, both of Verulam Advisory, were appointed as joint liquidators of kitchen furniture business Rhinocraft Furniture Limited, trading as Thomas Ash, on 3 March 2023. The business owed employees £10,000 and the HMRC £25,000 as preferential creditors, which are expected to be repaid from realised assets of £39,000. HSBC Bank is owed almost £20,000 and is expected to receive some distribution. Unsecured creditors are owed £190,000, with a total shortfall expected to be £207,000.

Mark Reynolds, of Valentine & Co, was appointed as liquidator of furniture business Quickli Limited on 8 March 2023. The business owed the HMRC £100,000, while other claims totalled £70,000 – these included a director’s loan of £40,000. It is expected that creditors will suffer a shortfall of £171,000.

Adam Price and Lane Bednash, both of CMB Partners UK Limited, were appointed as joint liquidators of furniture wholesaler MD Furniture London Limited on 23 February 2023. The business owed unsecured creditors a total of £167,000 as well as £3,000 to preferential creditor, the HMRC. Funding Circle is owed the majority standing at £104,000, while NatWest Bank is owed £37,000. Creditors are expected to suffer a shortfall of £170,000.

Jo Watts and Andrew McTear, both of McTear Williams & Wood Limited, were appointed as joint liqudiators of office furniture business Piranha Trading Limited, trading as Home in Online & Piranha Furniture, on 6 March 2023. The business owed preferential creditor, the HMRC, £91,000, while unsecured creditors are owed £459,000. Trade claims totalled £263,000, while a bank bounce back loan of £40,000 and an Amazon loan of £110,000 are also significant sums owed. In total, creditors are expected to suffer a shortfall of £561,000.

Simon Weir, of DSi Business Recovery, was appointed as liquidator of furniture wholesaler Love beds Limited on 3 March 2023. Two unsecured creditors are owed a combined sum of £54,000, which are expected to suffer a shortfall of the entire amount.

Neil Money, of CBA Business Solutions, was appointed as liquidator of carpet retailer Dalkard & Elliot (Leicester) Limited on 3 March 2023. The business owed employees £7,700 and the HMRC £25,000 as preferential creditors, which are expected to be repaid from realised assets of £41,900. Unsecured creditors are owed £182,000, which includes £85,000 owed to employees, £61,000 owed to the trade and £34,000 owed to banks. Creditors are expected to suffer a shortfall of £173,000.

Stephen Clancy and Steven Muncaster, both of Kroll Advisory Ltd, were appointed as joint administrators of Rotherham-based Addspace Furniture Ltd on 20 January 2023. In total, around £363,000 was realised from company assets and has been paid to secured creditor, invoice finance facility Close, owed £190,000. However, HSBC bank, owed £231,000, are not expected to be repaid. Preferential creditors, which include claims to RPS of £43,000 and the HMRC of £490,000, could receive a distribution from the remaining value of £309,000, while unsecured creditors, owed a combined figure of £2.1m, will not. These include trade claims of £918,000, employee redundancy claims of £199,000, hire purchase creditors of £444,000 and intercompany creditors of £597,000. A total creditor shortfall is expected to be over £2.1m. (Read more).