Appointment of Administrators at Bluespot Furniture Ltd
James Sleight and Oliver Collinge of PKF GM were appointed as Administrators of Bluespot Furniture Ltd on 20 January 2023.
Bluespot Furniture was a long-established UK furniture manufacturer in the commercial interiors, student accommodation, build-to-rent and house building markets. The Company designed, manufactured and installed furniture from production facilities in Dewsbury.
Following a sustained decline in turnover and the sale by its landlord of its trading premises the Company ceased trading, with the redundancy of its entire workforce, prior to the appointment of Administrators. The Administrators are now arranging for a sale of the Company’s remaining assets.
James Sleight, Joint Administrator said:
“Unfortunately the demand for office furniture was understandably very low during Covid and is not expected to recover to pre pandemic levels.”
“The Company had obtained support under various government schemes during the pandemic and with low demand, rising costs and pandemic debt to repay, the directors did not feel the business was sufficiently viable to justify continued trade.”
“Following our appointment we are now supporting employees in accessing government redundancy support and seeking to maximise realisations through a disposal of the remaining Company assets and collection of its book debt ledger”
“This is the second appointment over an office furniture manufacturer we’ve had since the pandemic. This sector is clearly experiencing significant challenges with the rise in hybrid and home working.”
ENDS