Stewart Linford (Chairmaker) Limited (02940286): administration
- Status
- Administration ended
- Administration began
- 2014-01-09
- Incorporated
- 1994-06-17
- Location
- Watford
- Industry
- 31090 Manufacture of other furniture
Why it went into administration
- Property / lease costs
- Sustained trading losses
- Rising interest rates
From the administrators' statement
Stewart Linford (Chawmaker) Limited was incorporated on the 17 June 1994 and produced high quality, bespoke furniture from tts premises based at Kitchener Works, Kitchener Road, High Wycombe, HP11 2SJ
Over the years the Company has won many industry awards, including the coveted Queen’s Award for Enterprise in addition, the Company has worked with many celebrities and was considered to be one of the country's leading makers of Windsor chairs
The Company was badly hit by the recession and 5 years ago turnover reduced by 50% from £2 million to £1 million The Company tned to downsize and reduced tts overheads but the effect of high interest rates on its borrowings and an tnterest rate swap which cost the Company a significant amount of money left tt undercapitalised
Administrators' statement of proposals (2014-05-01) · Companies House register