Classic Furniture Group Limited (01025293): administration
- Status
- Administration ended
- Administration began
- 2012-11-16
- Administrators
- Paul David Masters, Timothy Frank Corfield, Andrew Poxon
- Administrators' firm
- Leonard Curtis
- Formerly
- Classic Furniture (Newport) Limited; Classic Garden Furniture Limited
- Incorporated
- 1971-09-27
- Location
- Walsall
- Industry
- 25990 Manufacture of other fabricated metal products n.e.c.
Why it went into administration
- Competition / price pressure
- Rising costs / inflation
- Funding withdrawn / unable to refinance
- Loss of a key customer, supplier or contract
- Property / lease costs
- Sustained trading losses
From the administrators' statement
The Company was incorporated in 1971 The Company’s registered number ts 01025293 The Company traded as a manufacturer and refurbisher of commercial furniture to clients in the hospitality and drinks leisure sectors, under the trading names of “Classic 3rs”, “CS Furniture’, “Country Seat”, “Classic Matters”, “Classic Outdoors’, “Classic Shop-fitters”, “London Chairs”, "Reclaimed Furniture”, “Reclaimed Retro”, “Recycle Refurb” and “Utter Clutter”
In 2006 the shares of the Company were sold to the current directors Their strategy was to steadily grow the business to reach a turnover of £10m by targeting blue chip clients in the hospitality and drinks leisure sectors
Following the aforementioned change of ownership the Company grew and achieved a turnover of £7m in 2008 In 2009 the global financial! crisis badly affected the Company's sales and turnover, resulting in a significant reduction in turnover to
Administrators' statement of proposals (2012-12-31) · Companies House register