Woodberry Bros & Haines Limited (00473915): administration
- Status
- Administration ended
- Administration began
- 2014-07-02
- Administrators
- David Matthew Hammond, Ross David Connock
- Administrators' firm
- PwC
- Incorporated
- 1949-10-13
- Location
- Leeds
- Industry
- 31090 Manufacture of other furniture
Why it went into administration
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Property / lease costs
- Sustained trading losses
- Competition / price pressure
From the administrators' statement
The Company 1s a private company, incorporated in 1949, which manufactured and imported furniture for national and independent retailers from its premises in Highbridge, Somerset. The Company was a large local employer, employing 173 staff across its offices and factory at the date of administration.
The Company has one subsidiary, Bath Cabinet Manufacturers Limited, which is a dormant company.
The Bank provided funding to the business for many years secured by fixed and floating debentures over the Company’s assets. The other main funder was Commercial Finance which provided an invoice discounting facility against the debtor book and also funded some plant and machmery through a chattels mortgage Commercial Finance also holds a fixed and floatmg charge debenture over the debtors and certain chattel assets of the Company.
Administrators' statement of proposals (2014-09-03) · Companies House register