Long Eaton-based Acclaim Upholstery Company Ltd has entered into administration following "a difficult trading period" in which inflationary pressure saw the bespoke furniture manufacturer struggle with rising costs and the impact of finance repayments, alongside a drop in sales, says administrator Begbies Traynor.
Begbies Traynor's Martin Buttriss and Carolynn Best have been appointed as administrators, and all 128 employees of the business have been made redundant.
Martin says: “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, and say there has been a healthy level of interest in purchasing the assets.
