Importer of dining, bedroom and occasional furniture, Mark Webster Designs, has entered administration.
Lee Causer and Sarah Rayment, both of BDO, were appointed joint administrators of Mark Webster Designs and Mark Webster Holdings on 22 August 2022.
Following the appointment, both businesses have ceased to trade with immediate effect.
In a statement, administrators said: “Designs’ trade has suffered from wider economic challenges, such as negative exchange rate movements, increased container costs, fuel and wage costs and supply chain delays.
“The combined impact of these factors has been a significant strain upon working capital and the inability to secure new product has resulted in the business being unable to meet orders from customers.
“As joint administrators, we will be taking all necessary steps to maximise returns for the benefit of all creditors in accordance with our legal duties.”
Detailed in its latest filed accounts, the business, which has been established since 1990, posted a profit of £147,237, up from a loss of almost £40,000 a year earlier, but significantly down from £2.1m recorded in 2019.