Trio of furniture retailer closures sees over £400k owed to creditors

Three furniture retailers have entered liquidation, owing creditors a combined sum of £425,000.

Daniel James and Laurence Russell, both of Albert Goodman LLP, were appointed as joint liquidators of bed retailer Dreamcraft (South West) Ltd, trading as The Original Bed Warehouse, on 24 August 2022.

New Companies House documents outline a figure of £172,000 owed to unsecured creditors, including £45,000 owed to Barclays bank and £37,000 owed to other trade claims. It is expected that creditors will suffer a shortfall of £165,000.

Christopher Herron and Nicola Jayne Fisher, both of Herron Fisher, were appointed as joint liquidators of Putney Bed Centre Limited, trading as Surrey Beds, on 30 August 2022.

Ahead of Surrey Beds closure, the business launched a closing down sale during July, with its website currently stating: “After 22 years of helping the people of Surrey get a great night’s sleep, unfortunately, Surrey Beds has closed.”

Detailed in documents on Companies House, the business owed secured creditor HMRC just over £6,000, which is expected to repaid in full from realised assets valuing £25,000. Unsecured creditors, combing a number of bed manufacturers including Dreamland Beds, Harrison Spinks, Shakespeare Beds and Shire Beds, are owed £40,000. It is understood around £16,000 will be made available to unsecured creditors.

Douglas Pinteau and Richard Segal, both of WSM Marks Bloom LLP, were appointed as joint liquidators of Reading-based furniture retailer Glensquare Limited, trading as House of Pine and Oak, on 1 September 2022.

Companies House documents show that the business owes secured creditor, the HMRC, £15,000, which is expected to recoup most of that figure. As for unsecured creditors, a combined total sits at £192,000 with Starling Bank owed £50,000.

Other creditors include £28,000 owed to the Bank of Ireland and £20,000 owed to Capital On Tap (Clearbank). These creditors are expected to suffer a shortfall of the entire amount.

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