Begbies Traynor Group

Derbyshire furniture manufacturer enters into administration

Furniture Manufacturer 1040x700
Date Published: 12/07/2023

Long Eaton-based Acclaim Upholstery Company Limited has entered into administration following a difficult trading period. Inflationary pressure saw the bespoke furniture manufacturer struggle with rising costs and the impact of finance repayments, alongside a drop in sales.

Martin Buttriss and Carolynn Best at Begbies Traynor in Leicester have been appointed as administrators, and all 128 employees of the business have been made redundant.

Martin Buttriss, administrator and partner at Begbies Traynor, said:

“This is a long-established business that has been beset by a number of issues, which have conspired to create an extremely difficult operating environment.  A reduction in orders due to the cost-of-living crisis created problems with cashflow, which were exacerbated by inflationary pressure.”

The administrators have actively marketed the business for sale for which there has been a healthy level of interest in purchasing the assets.

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Martin joined Begbies Traynor in August 2019 as a Partner at the Leicester office as part of an expansion of the office.

Martin has worked in the insolvency sector for more than 25 years and qualified as a Licensed Insolvency Practitioner in 2003. Prior to joining Begbies Traynor he was a director of an independent insolvency firm in Leicestershire taking formal insolvency appointments in relation to both corporate and personal insolvency assignments and has spent his career providing practical advice to owners of SME businesses across a wide range of sectors.

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