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.
This is a brilliant opportunity to acquire a stationery retail shop in Reigate. Operating from a prime high street location with good levels of footfall along a busy street. The shop is equipped with relevant facilities, and has a clean and tidy look...
LEASEHOLD
Bathroom specialist business offering the design, supply and installation of bespoke luxury bathrooms and wet rooms in Berkshire and beyond. A Guaranteed Member of Checkatrade, the company is rated 10/10 for workmanship, tidiness, reliability, courte...
LEASEHOLD
The company offers a range of specialist gardening and landscaping products and services to both trade and domestic customers, with a particular focus on turf, top soil, mushroom compost, aggregates, cement and sand, and landscape waste services.
LEASEHOLD
25
|
Apr
|
Ambulance services provider acquired in pre-pack deal | BUSINESS SALE
Elite Emergency Medical Services Ltd (Elite EMS), an ambulan...
25
|
Apr
|
Tile business old to management team by Norcros | MBO/MBI
Johnson Tiles UK, a tile business based in Stoke-on-Trent, h...
25
|
Apr
|
New private equity owner for fleet hire firm | BUSINESS SALE
West Lancashire-based fleet hire business NRG Riverside has ...
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
We can help you capitalise on insolvent businesses. We list UK businesses in administration, liquidation and with winding up petitions daily. Ensuring our members never miss out on an opportunity
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.