# Sven Christiansen PLC (01428696)

> Why UK company 01428696 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/01428696

- **Status:** Administration ended
- **Administration began:** 2022-03-03
- **Administrators:** Diana Frangou, Glen Carter
- **Administrators' firm:** RSM
- **Formerly:** Sven Christiansen Interiors Limited; Assetcrown Limited
- **Incorporated:** 1979-06-13
- **Location:** Birmingham
- **Industry:** 31010 Manufacture of office and shop furniture

## Why it went into administration

- COVID-19
- Cash flow / liquidity pressure

## From the administrators' statement

The Company operated as a designer, manufacturer, and installer of office furniture. The business was established around 50 years ago. It operated primarily from a manufacturing facility on the Pensnett Estate in Kingswinford, West Midlands. Additionally, the Company operated a design studio in London, a head office in Guildford and a showroom in Cumbernauld.

In the 13 months ended 31 October 2020 (FY20) the Company incurred a net loss of £682k (after receipt of furlough monies of c£630k) followed by a net loss of £625k in the 12 months ended 31 October 2021 (FY21).

The Company had implemented restructuring actions in FY20, including redundancies, funded partly through obtaining a CBIL of £200k fram Lloyds Bank Plc (the ‘Bank’). Exceptional restructuring costs in FY20 were £278k. RSM UK Restructuring Advisory LLP (‘RSM’) did not provide any advice to the Company at this stage.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/01428696/filing-history/MzMzNzA1ODEyNWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/01428696

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.