Moda Furnishings Ltd (08658516): administration
- Status
- Administration ended
- Administration began
- 2023-07-14
- Administrators
- Timothy Vance, Samuel James Woodward
- Administrators' firm
- EY
- Incorporated
- 2013-08-21
- Location
- Manchester
- Industry
- 47599 Retail of furniture, lighting, and similar (not musical instruments or scores) in specialised store
Why it went into administration
- Weak consumer demand
- Supply chain disruption
- Funding withdrawn / unable to refinance
- COVID-19
- Cash flow / liquidity pressure
- Sustained trading losses
From the administrators' statement
The Company traded as a retailer of outdoor furniture. It is predominantly e-commerce led but also operated six showrooms located across the UK (Caterham, Chelmsford, Cheltenham, Leeds (temporary pop-up store), Manchester, Milton Keynes).
The Group is majority owned (c.75%) by Endless following a transaction concluded in September 2019. The remaining c.25% of shares are held by Management. STB is the Company’s senior secured lender.
The group structure at the Date of Appointment is summarised below. The only company which entered administration was Moda Furnishings Limited. The Company was the trading entity in the Group.
Administrators' statement of proposals (2023-08-09) · Companies House register