Luxury Home Design Group Ltd (05658059): administration
- Status
- Administration ended
- Administration began
- 2025-03-13
- Administrators
- Sarah Megan Rayment, William Innes
- Administrators' firm
- Kroll
- Formerly
- The RUG Seller Limited
- Incorporated
- 2005-12-19
- Location
- Manchester
- Industry
- 47910 Retail sale via mail order houses or via Internet
Why it went into administration
- Sustained trading losses
- Cash flow / liquidity pressure
- HMRC / tax arrears
- Creditor pressure / legal action
- Weak consumer demand
- Property / lease costs
From the administrators' statement
The Company had historically traded profitably, however, it began to experience a reduction in turnover during 2022 following the commencement of the conflict in Ukraine and the impact that had on the global economy. This was further compounded by the cost-of-living crisis in the UK and the changes in consumer habits.
The Company adapted the business in order to navigate those challenges and also managed to agree revised terms and payment plans with key suppliers which enabled the business to continue to trade.
However, during 2024, the Company again experienced a reduction in turnover which had a negative impact on cash flow and the Company was receiving increasing pressure from its creditors.
Administrators' statement of proposals (2025-05-14) · Companies House register