Creditors of 25 furniture businesses owed £15m

In the latest Insolvency Digest, creditors of 25 furnishing businesses entering liquidation or administration are expected to suffer a combined shortfall of £15.1m.

Martin Weller and Glyn Mummery, both of FRP Advisory Trading Limited, were appointed as joint liquidators of interior design business for luxury handpainted children’s furniture, Dragons Interiors Ltd, trading as Dragons of Walton Street, on 30 March 2023. The business owed preferential creditor, the HMRC, £285,000, as well as employee claims totalling £17,000, with the latter expected to be repaid from realised assets of £47,000. As for unsecured creditors, claims totalled £2.1m, which included a director’s loan of £1.8m. Creditors are expected to suffer a shortfall of £2.4m.

Kevin Goldfarb, of Griffins, was appointed as liquidator of carpet retailer Surrey Homewares Limited on 22 May 2023. The business owed preferential creditor, the HMRC, £63,000, which is expected to be repaid some of the debt from realised assets of £27,000. As for unsecured creditors, claims totalled £212,000, which included £41,000 owed to Lloyds Bank, as well as £113,000 owed to Surrey Blinds Limited – a connected company under the same ownership. Creditors are expected to suffer a shortfall of £248,000.

Kelly Burton and Fiona Grant, both of Wilson Field Ltd, were appointed as joint liquidators of online furniture business Simply Utopia Limited on 18 May 2023. The business owed preferential creditor, the HMRC, £17,000, as well as employee claims totalling £2,300, with the latter expected to be repaid from realised assets of £6,000. As for unsecured creditors, claims totalled £377,000, which included a sum of £211,000 owed to connected companies, £40,000 owed to HSBC Bank and £36,000 owed to Shopify. Creditors are expected to suffer a shortfall of £391,000.

Jeremy Frost and Stephen Wadsted, both of Frost Group Limited, were appointed as joint liquidators of furniture retailer Marble Furnishing Limited on 23 May 2023. The business owed unsecured creditors a total of £254,000, which included a sum of £122,000 owed to directors, £52,000 owed to its landlord and £38,000 owed to NatWest Bank. Creditors are expected to suffer a shortfall of £205,000.

Clive Morris, of Marshall Peters, was appointed as liquidator of furniture business Pure View Carpentry Ltd on 15 May 2023. The business owed preferential creditor HMRC £27,000, while unsecured creditor claims totalled £13,000, which is owed to Lloyds Bank. It is expected that creditors will suffer a shortfall of £38,000.

Martin Maloney and Steve Markey, both of Leonard Curtis, were appointed as joint liquidators of Empire Flooring Supplies Limited on 23 May 2023. The business owed preferential creditor HMRC £1,200, while unsecured creditor claims totalled £49,000. This included £40,000 owed as a bounce back loan with Lloyds Bank. It is expected that creditors will suffer a shortfall of £51,000.

Gareth Bishop and Simon Barriball, both of Company Liquidations, were appointed as joint liquidators of furniture business Loft Furniture Limited on 25 May 2023. The business owed preferential creditor employee claims £4,500, which is expected to be repaid from realised assets of £5,000. The HMRC is owed £3,300. As for unsecured creditors, claims totalled £112,000, with a further £60,000 owed to the HMRC. Employees are also owed a further £49,000. It is expected that creditors will suffer a shortfall of £213,000.

Simon Weir, of DSi Business Recovery, was appointed as liquidator of online furniture retailer Furniture Bunny Ltd on 30 May 2023. The business owed preferential creditor HMRC £29,000. Unsecured claims included £50,000 in a director’s loan, with creditors expected to suffer a shortfall of £75,000.

Jessica Thomas and Philippa Smith, both of Smith & Barnes Insolvency Practitioners, were appointed as joint liquidators of soft furnishings manufacturer The Handmade Furniture Company Leicester Ltd on 31 May 2023. The business owed preferential creditor employee claims £4,000, which is expected to be repaid from realised assets of £5,000. The HMRC is owed £4,000. As for unsecured creditors, claims totalled £104,000, with £37,000 owed to a director’s loan. It is expected that creditors will suffer a shortfall of £108,000.

Adam Nakar, of WSM Marks Bloom LLP, was appointed as liquidator of bespoke furniture supplier Oxan Furniture Limited on 1 June 2023. The business owed preferential creditor employee claims £24,000, which is expected to be repaid in part from realised assets of £19,000. The HMRC is owed £321,000. As for unsecured creditors, claims totalled £1.9m, with £1.4m owed to the trade. A further £262,000 is owed to employees and directors, while £189,000 is owed over an intercompany loan. It is expected that creditors will suffer a shortfall of £2.3m.

Matthew Waghorn and Lawrence King, both of Antony Batty & Co, were appointed as joint liquidators of furniture manufacturer D.A. Gibbon (Contractors) Limited, trading as The Good Shelf Company, on 30 May 2023. The business owed preferential creditor HMRC £45,000. Unsecured claims totalled £221,000 and included £149,000 in a director’s loan as well as £49,000 owed to NatWest Bank. Creditors are expected to suffer a shortfall of £259,000.

Richard Hunt, of SFP, was appointed as liquidator of furniture manufacturer James Hacking Interiors Limited on 6 June 2023. The business owed preferential creditor HMRC £16,000. Unsecured claims totalled £126,000 and included £38,000 in a director’s loan as well as £51,000 owed to Barclays. Creditors are expected to suffer a shortfall of £142,000.

Clive Morris, of Marshall Peters, was appointed as liquidator of furniture retailer Instrument Limited on 1 June 2023. The business owed preferential creditor employee claims £20,600, with the majority of which expected to be repaid from realised assets of £18,500. The HMRC is owed £327,000 while unsecured creditor claims totalled £1m, with a further £82,000 owed to employees. Around £650,000 is owed to the trade, £165,000 owed to Shopify and £50,000 owed to Barclays Bank. It is expected that creditors will suffer a shortfall of £1.3m.

Stephen Beverley and Adrian Graham, both of Graywoods, were appointed as joint liquidators of furniture retailer The Lite Spot (UK) Limited on 7 June 2023. The business owed preferential creditor employee claims £6,200, which is expected to be repaid from realised assets of £6,000. The HMRC is owed £13,400, while HSBC Bank is owed £103,000. As for unsecured creditors, claims totalled £158,000, with a further £90,000 owed to employees. It is expected that creditors will suffer a shortfall of £275,000.

Engin Faik, of Cornerstone Business Turnaround and Recovery Limited, was appointed as liquidator of furniture retailer TBS Southern Ltd on 12 June 2023. The business owed preferential creditor, the HMRC £133,000, while unsecured creditor claims totalled £177,000. This included £49,000 owed to Barclays Bank and £102,000 owed to MAPP. It is expected that creditors will suffer a shortfall of £310,000.

Natalie Hughes, of Simply Corporate Limited, was appointed as liquidator of furnishings wholesale business Lighting Options Ltd on 15 June 2023. The business owed preferential creditor employee claims £2,700, while unsecured creditor claims totalled £112,000, with a further £42,000 owed to employees. It is expected that creditors will suffer a shortfall of £115,000.

Zain Iqbal, of Cooper Young, was appointed as liquidator of bespoke kitchen furniture manufacturer Silk Designs Kent Ltd on 13 June 2023. The business owed preferential creditor, the HMRC, £37,000, while unsecured creditor claims totalled £360,000. This included £35,000 owed to employees, £195,000 owed as a director’s loan and £14,000 owed to consumers. It is expected that creditors will suffer a shortfall of £376,000.

Robert Cooksey, of Bridgestones Limited, was appointed as liquidator of furniture manufacturer Square One Interiors Limited on 12 June 2023. The business owed preferential creditor employee claims £10,000, while the HMRC is owed £17,000. As for unsecured creditors, claims totalled £251,000, with a further £23,000 owed to employees as well as £38,000 owed to consumer deposits. It is expected that creditors will suffer a shortfall of £278,000.

Victoria Galbraith, of Bridgestones Limited, was appointed as liquidator of furniture maker New Forest Rustic Furniture Ltd on 20 June 2023. The business owed preferential creditor employee claims £3,200, while the HMRC is owed £120,400. As for unsecured creditors, claims totalled £181,000, with a further £20,000 owed to employees and over £50,000 owed to Barclays Bank. It is expected that creditors will suffer a shortfall of £306,000.

Simon Weir, of DSi Business Recovery, was appointed as liquidator of furniture retailer Comfort Beds (Yorkshire) Ltd on 16 June 2023. The business owed preferential creditor the HMRC £7,200, while unsecured creditor claims totalled £61,500 – the majority of which is owed to Lloyds Bank at a sum of £35,000. It is expected that creditors will suffer a shortfall of £62,000.

Lee Causer and Mark Thornton, both of BDO LLP, were appointed as joint administrators of kitchen furniture manufacturer Pembar Limited, trading as Hatt Kitchens, on 15 May 2023. The business owed preferential creditor employee claims £119,000, which is expected to be repaid from realised assets of £283,000. The HMRC is owed £229,000, while Lloyds Bank is owed £629,000. As for unsecured creditors, claims totalled £3.9m, with a further £940,000 owed to employees. It is expected that creditors will suffer a shortfall of £4.6m.

Sandra Mundy, of James Cowper Kreston, was appointed as liquidator of furniture wholesaler Groakeg Limited, formerly known as Hulsta Furniture (U.K.) Limited, on 15 June 2023. The business owed preferential creditor employee claims £5,400, which is expected to be repaid from realised assets of £276,000. As for unsecured creditors, claims totalled £447,000, with a further £255,000 owed to employees. It is expected that creditors will suffer a shortfall of £270,000.

Martin Buttriss and Carolynn Best, both of Begbies Traynor (Central) LLP, were appointed as joint liquidators of bespoke furniture business Bespoke Wardrobes and Furniture Limited on 22 June 2023. The business owed preferential creditor employee claims £1,000, which is expected to be repaid from realised assets of £5,700. The HMRC is owed £52,000, while unsecured creditor claims totalled £145,000, with a further £60,000 owed to employees. It is expected that creditors will suffer a shortfall of £193,000.

Adam Price and Lane Bednash, both of CMB Partners UK Limited, were appointed as joint liquidators of bespoke furniture maker Cleber Tavares Limited on 21 June 2023. The business owed preferential creditor the HMRC £181,000, while unsecured creditor claims totalled £191,000. It is expected that creditors will suffer a shortfall of £368,000.

Peter Wastell and William Turner, both of Verulam Advisory, were appointed as joint liquidators of bespoke bedroom furniture business The Heritage Wardrobe Company Ltd on 6 June 2023. The business owed preferential creditor the HMRC £259,000, while unsecured creditor claims totalled £150,000, with £48,000 owed to Funding Circle. It is expected that creditors will suffer a shortfall of £360,000.

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