Direct Furniture Stores (York) Limited (02586603): administration
- Status
- Administration ended
- Administration began
- 2013-06-18
- Administrators
- Julian Pitts, Nicholas Edward Reed
- Administrators' firm
- Begbies Traynor
- Incorporated
- 1991-02-28
- Location
- Leeds
- Industry
- 47599 Retail of furniture, lighting, and similar (not musical instruments or scores) in specialised store
Why it went into administration
- Creditor pressure / legal action
- Cash flow / liquidity pressure
From the administrators' statement
The Company traded as a furniture retailer selling products to the public under the trading name “The Furniture Centre” from premises in Morley, Leeds The company employed nine members of staff and had been trading since 1991 The Company traded from premises owned by Killock (Property Developments) Limited ("KPOL"), an associated entity of the Company Tumover for the year ended 31 January 2012 was circa £700,000 which resulted in a net loss of £40,000
The Company began to expenence financial difficultes as a consequence of a prolonged downturn in
trading As a result, the Company expenenced creditor pressure consisting of threats of the commencement of legal actions from creditors and the withdrawal of credit from suppliers
Administrators' statement of proposals (2013-08-16) · Companies House register