Thu, 13 Feb 2020 | ADMINISTRATION
Kent-based furniture retailer Ashbury Furniture has gone into administration, appointing Crowe UK LLP to oversee the process.
Ashbury Furniture was founded as Ashford Bed Centre in 2005 and is owned by Dominique and Richard Hanson. The company operates from Ashford Business Park, occupying a 15,000 square foot showroom.
According to a statement from the company’s directors, roadworks on the nearby M20, combined with increased rent and business rates had affected the business.
Its most recent accounts, for the year ended March 31st 2018, show that the company had fixed assets worth £62,294. These comprised motor vehicles, fixtures and fittings and office equipment. Its stocks (finished goods and goods for resale) at the time of filing were £248,101.
Crowe UK LLP partners Vincent Green and Mark Newman were appointed co-administrators for the business.
Vincent Green said: "Ashbury Furniture has been providing high quality furniture to customers across Kent and beyond for a number of years.”
He added: "While challenging trading conditions have rendered it difficult for the business to continue to thrive, there is little doubt that Ashbury Furniture will remain highly regarded by peers and customers."
A closing down sale at the company’s showroom will be held this weekend, running from February 14th to 17th.
YE21 turnover of £666k. A well-established sportswear brand specialising in water sport clothing. Operating over 10 years, establishing a prominent brand and building up a strong rapport with multiple clients and wholesalers.
Provides fitted bathrooms, hot tubs and related accessories, catering to B2B and B2C markets nationwide via its website, Amazon and eBay platforms, a distributor network and its own extensive showroom.
Manufactures and distributes a comprehensive range of exceptional quality towels, disposable accessories, and comfort products. Supplies goods to beauty salons, hair salons, spas and wellness centres, colleges, physiotherapists, aesthetic companies a...
Chartered accountancy and business advisory firm Cottons Gro...
Enisca, a multi-disciplinary engineering firm operating in t...
Sign up to receive our acquisition alert emails to get your FREE guide
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources