Palmerston Furniture Limited (07868477): administration
- Status
- Administration ended
- Administration began
- 2015-03-27
- Administrators
- James Bernard Stephen, Francis Graham Newton
- Administrators' firm
- BDO
- Incorporated
- 2011-12-02
- Location
- London
- Industry
- 47910 Retail sale via mail order houses or via Internet
Why it went into administration
- Management failings / irregularities
From the administrators' statement
2.1 The company was incorporated on 2 December 2011. The Company traded from premises at 36 Terregles Street, Dumfmes, DG2 9AS and a warehouse at Umts 2 & 3, Kingholm Quay, Dumfries The Company’s principal trade was the sale of beds, mattresses and furniture though online sales channels, primanly Amazon, EBay and Groupon
Prior to incorporation, the director Andrew David Hughes, had traded as a sole trader as Palmerston Furniture for approximately 30 years The sole trade business was transferred into the limited company in 2011 Building on the relationships made as a sole trader, trade was initially successful with turnover reaching c. £10 million at tts height.
Dunng 2013, a combination of an employee entering the Company into contracts that the Company could not fulfil timeously, quality control issues with suppliers and problems with the Company’s overseas transportation agents led to customers receiving goods late or that were sub-standard A consequence of the late/poor quality goods was the ontine sales channels withholding payment from the Company and deducting any refunds issued from Company funds hetd.
Administrators' statement of proposals (2015-05-08) · Companies House register