Industry News

The Quality Furniture Company Went Under Owing Gbp3.6m To Trade Creditors

Lincolnshire furniture manufacturer The Quality Furniture Company went under in October owing GBP3.6m to creditors, according to documents seen by TheBusinessDesk.com.

Administrators managed to raise GBP1.56m through a sale of the company’s assets, the papers say.

A list of creditors shows that Carpenter Limited of Somercotes in Derbyshire was owed GBP412,740, while Clinchplain in Nelson was owed GBP273,244. Meanwhile, United Fillings of Billingborough in Lincolnshire was owed GBP552,837.

Chris Pole and Mark Orton from KPMG Restructuring were appointed joint administrators to The Quality Furniture Company, based in Grantham, August. It closed its doors for good on 12 October with the loss of 161 jobs.

The company made sofas for retailers including DFS, Next, Argos, Homebase, Laura Ashley and John Lewis.

(TheBusinessDesk)

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