Wed, 12 Sep 2012 | ADMINISTRATION
Furniture company Zutux has entered administration, citing the economic downturn as responsible for its recent difficulties.
The company has appointed Sarah Bell and Philip Duffy of Duff & Phelps as joint administrators and the pair are currently seeking a buyer for the business.
Mr Duffy commented: “Discretionary spending has suffered as a result of the ongoing economic troubles and regrettably the company was unable to sustain its overheads from the turnover the business generated over recent months.”
The business manufactured bespoke furniture and kitchens under the trading name of Johnson & Johnson and operated form offices in Trafford Park, as well as international sites in Hong Kong and Los Angeles, selling furniture, homewares and technology products online.
Roger Butterworth launched Zutux in January 2010, along with director Kevin Charles. The company bought Trafford Park furniture manufacturer Johnson & Johnson out of administration the next year and poured a substantial investment into the development of the businesses.
It also received investment form the North West Fund for Development Capital, which provides funds for SMEs in the region. Unfortunately, this has not been enough for Mr Butterworth and Mr Charles to turn around the company's fortunes and the majority of the company's staff have been made redundant while the business looks for a buyer.
On Hold
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