DES Beds Furniture Direct Limited (07901286): administration
- Status
- Administration ended
- Administration began
- 2013-05-23
- Administrators' firm
- Smart Insolvency Solutions
- Incorporated
- 2012-01-09
- Location
- Worcester
- Industry
- 47599 Retail of furniture, lighting, and similar (not musical instruments or scores) in specialised store
Why it went into administration
- Sustained trading losses
From the administrators' statement
The Company was formed in January 2012, following on from a sole trader business that had been operated for several years by Desmond Bate The company retails bedding, sofas and other associated furniture and furnishings
The Company operated from 3 stores, one in Barnsley, Leeds and Castleford, although the Leeds store was only opened this year, in an effort to boost sales and profitability Unfortunately, there was a significant downturn in business during the last year and it would appear the Company has made a significant loss
These losses put pressure on cash flow and after considenng the difficult trading conditions in this retail sector and the persisting difficulties in the economy, the director could see no way of trading out of this financial situation. Thought was originally given to a Company Voluntary Arrangement but the director decided that the Company would not be sufficently profitable, going forward, to make significant contributions towards the creditors’ debt. As a result, the director, having taken professional advice, decided to place the company into Administration.
Administrators' statement of proposals (2013-06-18) · Companies House register