Thu, 09 Apr 2020 | ADMINISTRATION
Long Eaton-based furniture group JDP Furniture has entered administration, appointing FRP Advisory to oversee the process.
JDP Furniture is a maker and importer of furniture, it also acts as the holding company for the Celebrity Motion Furniture, Welbeck House, Wade Upholstery, JDP Frames, Ikon by Celebrity, Cintique, Celebrity and Arlo & Jacob brands.
The company employed 540 people at its Long Eaton plant, according to its most recent accounts, having made 32 redundant in 2017 after declining sales for its Wade brand put a stop to its sale to the independent retail sector.
In its latest set of accounts, JDP Furniture cited difficult trading conditions as a reason for a drop in revenue. The group has now moved to appoint Nathan Jones and John Lowe from the Leicester office of FRP Advisory Trading Limited as joint administrators for the business.
JDP Furniture Group Limited’s latest set of accounts were made up the year ending September 29 2019. Amidst difficult trading conditions, the group registered turnover of £37.6 million for the year, down from £43.2 million the year before, with an operating loss of just over £2 million, compared to £3.5 million the year before.
While reporting that its consolidated balance sheet remained strong, the group reported that its net assets decreased by over £2 million from the year before to £4.86 million. Fixed assets were reported at close to £2.3 million, with current assets of £10.7 million.
View the latest distressed UK businesses here.
• Leasehold premises – 8 years left • Well-presented Website • 20ft x 8ft Portable Office • 10ft x 8ft Store room container • Water & electric on site • Site can hold 40 vehicles • Vehicles not included in sale – can be purchased on top of sal...
LEASEHOLD
Supplies a comprehensive range of specialist high-end sporting equipment, with individual models retailing at up to £5k. Primarily sells to the general public, holiday parks and activity centres, with additional revenue generated by the film and TV p...
RELOCATABLE
Rapidly expanding online retailer of distinguished garments and accessories serving a diverse client base comprising both B2B and B2C custom. Using in-house printing and manufacturing software the company has cultivated a unique portfolio of clothing...
|
20
|
|
May
|
Administrators seek buyer for gourmet instant noodle brand | ADMINISTRATION
Bournemouth-based instant foods brand Mr Lee’s Pure Fo...
|
19
|
|
May
|
Knights continues acquisition-lead growth strategy with £11.5m deal for law firm | BUSINESS SALE
Legal services company Knights has acquired Portsmouth-headq...
|
18
|
|
May
|
Insolvencies forecast to surge 37 per cent in 2022 as inflation hits 40-year high | BUSINESS NEWS
Businesses in the UK look set to come under continuing press...
Sign up to receive our acquisition alert emails to get your FREE guide
|
07
|
|
Oct
|
Cleveland Bridge assets to go to auction next month | COMMERCIAL PROPERTY
It has been confirmed that an auction of the property and as...
|
10
|
|
Sep
|
Cleveland Bridge property and assets to head to auction as search for a buyer fails | ADMINISTRATION
Administrators for structural engineering firm Cleveland Bri...
|
08
|
|
Sep
|
Assets for sale as Scottish wind turbine firm enters administration | ADMINISTRATION
Scottish wind turbine manufacturer CS Wind (UK) has fallen i...
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