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Debt details of three furniture retailers following liquidation

Furniture retailers Derona, Furnish Our Home and Express Living & Bedrooms have all entered liquidation, owing a combined figure of just over £400,000.

Andrew Ryder, of JT Maxwell Ltd, was appointed as liquidator of Express Living & Bedrooms Ltd on 22 July 2022.

Documents on Companies House detailed the HMRC as the company’s only preferential creditor, owed £188,000. Around £6,000 is expected to be realised from assets.

Unsecured creditor claims totalled £75,000, with £45,000 owed to Lloyds Bank and a further HMRC claim of £29,000. In total, creditors are expected to suffer a shortfall of £269,000.

Meanwhile, online furniture retailer Furnish Our Home has been placed into liquidation owing creditors just over £100,000.

Martin Maloney and Steve Markey, both of Leonard Curtis, were appointed as joint liquidators of Ecommerce Retail Solutions Ltd, trading as Furnish Our Home, on 20 July 2022.

According to the statement of affairs document on Companies House, the business owed both the HMRC and PayPal around £12,000 each, as well as Shopify, owed over £30,000.

The company also owes £42,000 to 66 consumer claims, with creditors expected to suffer a shortfall of £106,000.

Finally, Gary Thompson and Michael Kiely, both of Quantuma Advisory, were appointed as joint liquidators of sofas and corner sofa beds retailer Derona Furniture and Living Ltd on 27 July 2022.

Ahead of entering liquidation, the retailer owed the HMRC a figure of £31,797, which was the company’s only stated creditor. It is expected that the HMRC will suffer a shortfall of the entire amount.

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