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.
Specialises in the manufacture and sale of hand-crafted and stylish personalised greeting cards and gifts for all ages and occasions. Highly skilled and experienced workforce that enables the company to offer a dedicated and customer-focused approach...
RELOCATABLE
Established Over 30 Years. Excellent Google Customer Reviews. Potential to Increase Turnover. Well stocked with Products. Top Quality Service & Great Prices. Offers invited.
FREEHOLD
Corporate and Celebrity Clients. Fantastic Reviews. Brand New Website. Huge Scope for Future Growth. This is a very exciting opportunity to acquire a specialist events business which has a wealth of experience and a list of fantastic social-media rev...
LEASEHOLD
27
|
Jun
|
Administrators seek buyer for listed pharmaceutical company | ADMINISTRATION
Listed pharmaceutical firm 4D Pharma Plc has fallen into adm...
24
|
Jun
|
E-commerce imports retailer up for sale for £1.6m | BUSINESS SALE
Deals Incorporated, a Manchester-based e-commerce retailer t...
23
|
Jun
|
Auto Trader completes acquisition of Autorama at nearly 16x gross profits | BUSINESS SALE
Auto Trader has completed the acquisition of new vehicle lea...
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