Furnishings company enters administration

Tue, 05 Feb 2019 | ADMINISTRATION



Burnley-based manufacturer and designer of home furnishings, Textile Imports Limited has entered administration. Offers are currently being sought for the purchase of the business.

Steven Muncaster and Sarah Bell, both of Duff & Phelps have been appointed as joint administrations and will continue to trade the business while a buyer is found.

The 33-strong workforce has blamed cashflow problems as the reason for the decision to enter administration.

Joint administrator, Steven Muncaster, said: “The company has faced a series of cash flow challenges in recent months as a result of a poor trading position.

“This has been driven, in part, by the softening of consumer demand which has depressed spending.

“It is, however, our stated intention to continue to trade the business as we search for a buyer and would encourage anyone who is interested to contact us.”

Established in 1953, Textile Imports has a rich history and manufactures, designs, imports and distributes a range of high quality branded home furnishings and also is a supplier of online and retail businesses of all sizes.

Trading from Network 65 Business Park, Hapton, the company also owns the brands Hamilton McBride and Home Creations; both are known for being high quality furnishings.

Duff & Phelps has a global presence and has experience advising on matters in corporate finance, investigations, disputes, cyber security, compliance and regulatory matters, and other governance-related issues. Client base ranges from publicly traded and privately held companies, law firms, government entities and investment organisations such as private equity firms and hedge funds.

For more news stories about administrations click here. For all our administrations listings, click here.


Share this article



Latest Businesses for Sale

Manufacturer of Railway Infrastructure Products
East Midlands, UK

Designs and manufactures high-performance rail electrical products and cable accessories. Caters to major rail, underground and tramway infrastructure projects throughout the UK, Ireland and Europe. Offers invited.

Asking Price: Offers Invited
Turnover: £1,400,000

LEASEHOLD


Manufacturer & Supplier of Valves
UK Wide

Established in 2012, owned by current shareholders from inception. Over 45 active clients; 80% provide repeat business. Offers invited.

Asking Price: Offers Invited
Turnover: £1,000,000

LEASEHOLD


International Fibre Optic & Copper Networking Product Manufacturer
UK Wide

Offers an extensive range of products, providing cost-effective solutions for clients. Highly skilled second-tier management team, with some members boasting over 40 years of experience. Offers invited.

Asking Price: Offers Invited
Turnover: £2,200,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
26
 
Jun
 

'All options' being explored for collapsed Welsh cheese maker | ADMINISTRATION

A cheese-making factory in Snowdonia has collapsed into admi...

 
25
 
Jun
 

Port Talbot construction business enters administration | ADMINISTRATION

A construction company based in Port Talbot has fallen into ...

 
24
 
Jun
 

Digital account provider snapped up by Morses Club | BUSINESS SALE

Sheffield-based U Holdings Limited, which trades under the n...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
02
 
Feb
 

High street wine retailer Oddbins enters administration | ADMINISTRATION

Off-licence chain Oddbins has gone into administration. Its ...

 
22
 
Jan
 

Jewellery retailer enters administration | ADMINISTRATION

A Nottingham-based jewellery and watches company has fallen ...

 
15
 
Dec
 

Two pub companies enter administration | ADMINISTRATION

Mitchell’s of Lancaster (Brewers) Limited and York Bre...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources