Longpre Furniture Limited (03000249): administration
- Status
- In administration
- Administration began
- 2024-03-01
- Administrators
- Neil Frank Vinnicombe, Paul David Wood
- Administrators' firm
- Begbies Traynor
- Formerly
- Longpre Cabinet Makers Limited
- Incorporated
- 1994-12-09
- Location
- Bath
- Industry
- 31090 Manufacture of other furniture
Why it went into administration
- HMRC / tax arrears
- Creditor pressure / legal action
- Cash flow / liquidity pressure
From the administrators' statement
Our proposals for achieving the purpose of the administration provide detailed information in relation to the Company. The following background information is provided to assist creditors who may have limited knowledge of the Company and its affairs to better understand the reasons for the pre-packaged sale.
The Company designs and crafts free standing and fitted furniture to individual specification for many prestigious residential and commercial addresses across the world and has previously traded profitably with the accounts for the year ended 30 September 2021 showing a net profit of £307,759. Subsequently an investment of £200k was made in an additional manufacturing facility and CNC machinery. This has seen turnover grow from £3.2m to £6m in 2 years.
The reasons for the Company’s insolvency
Administrators' statement of proposals (2024-03-13) · Companies House register