Long Eaton furniture manufacturer enters administration

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.


Share this article



Latest Businesses for Sale

Plant Hire & Sales
Lincolnshire, UK Wide

Established in 1975, this is the "go to" plant hire business within the Spalding region. They have a vast and ever growing customer base that is well diluted. The premises were purpose built, fully secure with ample room for expansion. The 2nd tier m...

Asking Price: £900,000
Turnover: £662,000

LEASEHOLD


Premium Gardening Supplies Online Retailer
UK Wide

Well-established business operating for over eight years. Specialises in the online sale of both own-brand and leading brands of gardening and horticultural supplies across the UK. Enviable client base comprising a number of long-standing relationshi...

Asking Price: Offers Invited
Turnover: £5,600,000

RELOCATABLE


Online & Retail Florist Business
Oldham, Manchester, North West, UK

Established in 1978. Excellent reputation. High profit margins. Mix of corporate and general public customers. Further growth potential. Seen large growth in online. Offers invited.

Asking Price: £70,000
Turnover: £327,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
14
 
Aug
 

Trafford Centre up for sale after Intu administration | COMMERCIAL PROPERTY

Manchester’s Trafford Centre shopping mall is up for s...

 
13
 
Aug
 

Administrators bring three former Shepherd Cox Group hotels to market | DIVISION SALE

Administrators have put three hotels in the North of England...

 
12
 
Aug
 

Baird Group to close stores as CVA is approved | BUSINESS NEWS

Retailer and wholesaler Baird Group, the license holder for ...

Free guide: 10 Biggest Buyer Mistakes

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

Email


Related News

 
20
 
Jul
 

Buyer sought for sports bar chain | ADMINISTRATION

FRP Advisory are seeking a buyer for Rileys Sports Bar, afte...

 
29
 
May
 

Monsoon Accessorize close to administration | ADMINISTRATION

Fashion retailer Monsoon Accessorize is close to entering ad...

 
19
 
Feb
 

On-demand laundry app snapped up after administration | BUSINESS SALE

Laundrapp, an on-demand laundry service which was touted as ...

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