Taxman repaid as creditors suffer shortfall

Furniture business Excellence Home Furnishings UK Ltd has entered liquidation owing creditors over £300,000.

Simon Weir, of DSi Business Recovery, was appointed as liquidator of Excellence Home Furnishings UK Ltd on 21 April 2022.

Detailed in newly filed documents on Companies House, the business owed unsecured creditors a total of £306,000, with the majority of £229,000 being owed to the trade.

Directors are owed £18,000, while banks, Starling and Tide, are owed a combined sum of £59,000, with the HMRC bill at £3,700.

It is understood that creditors will suffer a shortfall of the entire amount, other than HMRC due to £3,500 being available to settle the majority of its debt from company cash assets.

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