Serene Beds and Furniture Limited (10839476): administration
- Status
- Administration ended
- Administration began
- 2023-03-31
- Administrators
- Conrad Alan Beighton, David Craig Griffiths
- Administrators' firm
- Leonard Curtis
- Formerly
- Furnish Your Home Limited
- Incorporated
- 2017-06-28
- Location
- Birmingham
- Industry
- 96090 Other service activities n.e.c.
Why it went into administration
- Creditor pressure / legal action
- COVID-19
- Property / lease costs
- Bad debts / customer insolvency
- Sustained trading losses
From the administrators' statement
The Company was incorporated on 28 June 2017 and was initially dormant. Subsequently, it was used as the purchasing vehicle for the purpose of acquiring the business and assets of Serene Furnishings Limited (formerly in administration) (“SFL”). SFL entered into administration on 17 December 2019 and the prepack sale was completed with the Company immediately following the filing of the notice to appoint administrators. The former administrators held a debenture against the Company in respect of the deferred sale consideration. This was paid prior to the SFL administration concluding and SFL being dissolved at Companies House. Tasleem Tasab and Nadirah Habib were directors and shareholders of SFL before it entered into administration.
The Company supplied home furnishings and logistics across the UK, Central Europe and the Middle East. The business traded from a 100,000 square foot leased premises located at Unit1a, the Hill Top Trading Estate, West Bromwich B70 OTX. The Company’s sole director and shareholder is Mr Tasleem Tasab. The business operated with 35 full and part time staff in its combined warehouse, factory and office space in West Bromwich. The Company also subcontracted various sales roles and delivery drivers.
The business was financed using funds from working capital in the business, funds injected by the director, former director Nadirah Habib, and predominantly using its invoice finance facility with Bibby Financial Services Limited (“Bibby’).
Administrators' statement of proposals (2023-07-18) · Companies House register