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.
An exciting opportunity to acquire this very busy and well known post office and convenience store. The premises occupy a prime trading position fronting a busy main road with free roadside parking.
LEASEHOLD
Substantial shop, deli, off licence and tea lounge situated in a well-regarded quality business with good local and tourist support in Exmoor national park town.
LEASEHOLD
This sale comprises of two businesses owned by our clients at the same premises in a town location in South West Bedfordshire. After many successful years of trading the owners have decided to bring the business to market for the first time.
LEASEHOLD
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