Furmanac Limited (01059575): administration
- Status
- In administration
- Administration began
- 2022-07-21
- Administrators
- Paul William Harding, Gareth David Wilcox
- Administrators' firm
- Opus Restructuring
- Formerly
- Sedac (U.K. Services) Limited
- Incorporated
- 1972-06-27
- Location
- Milton Keynes
- Industry
- 13921 Manufacture of soft furnishings
Why it went into administration
- COVID-19
- HMRC / tax arrears
- Creditor pressure / legal action
- Property / lease costs
- Sustained trading losses
From the administrators' statement
2.1 Trading started in 1968 by Reg Hilliard (‘RH’) and the Company was incorporated as a limited company, Sedac (U.K. Services) Limited, in 1972 based in South Essex. The name was changed to Furmanac Limited (‘the Company’) in 1988 when RH bought out Sedac’s other 50% Shareholder. Initial trading was funded by the initial Shareholder capital.
2.2. The business started as an importer of and wholesaler of furniture components, (sofa bed and recliner mechanisms) supplying the furniture manufacturing trade.
2.3. Manufacturing commenced in the mid-1990s in a satellite hub in Halifax, before moving to Coleshill in Birmingham in 1997 where production of finished adjustable beds started, this then moved to Aston in 2000. Mattress production started in 1998 in Kingswinford.
Administrators' statement of proposals (2022-08-03) · Companies House register