Pair of Midlands furniture brands fall into administration

Administrators are set to market the assets of a pair of Midlands-based furniture businesses for sale after the companies collapsed in the wake of a failed sale process. Ashley Manor and Alexander & James Sofas were both owned by TCM Living Group.

Ashley Manor was a Dudley-based upholstered furniture manufacturer, while Nottingham-headquartered Alexander & James operated as TCM Living’s import business for British-designed sofas manufactured in Thailand and distributed to UK and international retailers.

Facing economic and industry challenges, the companies filed a notice of intention to appoint administrators on August 27 2025 and, despite significant marketing efforts undertaken during the moratorium period, a buyer could not be secured. All parties that expressed interest in the businesses ultimately withdrew, citing persistent industry headwinds and economic uncertainty as decisive concerns.

As a result, no viable offers were secured that could have preserved the businesses as going concerns. Joint administrators from Opus Restructuring were subsequently appointed and the trading operations of both businesses ceased effective immediately, with factory closures taking place on Monday September 15.

TCM Living Group Chief Executive Andy Kennaugh said that the decision to place the businesses into administration was “extremely difficult”, but despite “intensive efforts” the group had “exhausted all viable options for securing new ownership that would preserve these businesses.”

Colin Wilson, managing partner at Opus, added: "The current economic climate is particularly challenging for all businesses in the furniture market. The cost-of-living pressures have had a direct impact on recent sales volumes, due to the tight squeeze on discretionary spending for all consumers.”

"It is unfortunate that a buyer could not be secured in this instance and we now enter the process of realising the company's assets for the benefit of creditors."

TCMC plc chairman Pimol Srivikorn said that the decision “reflects the fundamental shift in Britain's economic landscape since our initial investment over ten years ago”, adding that “regulatory uncertainty, fiscal policy changes, and persistent economic headwinds have created an environment where even well-established businesses with strong brand recognition cannot attract viable investment for continuation.”

In the year to December 31 2023, Alexander and James Limited reported turnover of around £21.3 million, down from £31.7 million a year earlier, but recovered from an operating loss of over £274,000 in 2022 to record an operating profit of around £378,000. At the time, its fixed assets were valued at £414,000 and current assets at £4.7 million, with net assets coming to around £130,000.

During the same period, Ashley Manor Upholstery Limited reported turnover of £31.3 million, down from £35.5 million, and saw its operating losses widen from £917,000 to around £1.1 million. At the time, its fixed assets were valued at £4.5 million and current assets at £9.2 million, but net liabilities exceeded £5.6 million.

While it can be challenging to sell a struggling company prior to insolvency, there are some steps that owners can take to secure a solvent solution

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