Close Menu
UK Liquidators

Insolvency Related News

Latest News from UK Liquidators

Low-Cost Liquidation
100% Confidential
Stop HMRC & Creditor Pressure
Partner-led Service

Derby Fireplace Company Enters Voluntary Liquidation

By Jon Munnery
1 July 2016

The Derby Fireplace Company, whose name neatly outlines the nature of its business, has entered liquidation on a voluntary basis having struggled to achieve profitability over the course of recent months and quarters.

Having been operational for more than 20 years, there have been various efforts on the part of the company’s bosses to turn around the struggling business and to boost its flagging sales.

However, the creation of a new website and interest free credit options did not deliver the hoped-for improvements in revenues and profits.

A Company Voluntary Arrangement (CVA) was considered as a potential route forward for the fireplace business but it has now been entered into liquidation instead.

The CVA would have given the company an opportunity to pay off its creditors over a specified period of time while it continued to trade and potentially pursue a recovery.

Sustainability though could not be achieved at the Derby Fireplace Company and directors in the end decided that liquidation was the only viable option remaining for their business.

Lucinda Matkin was recently appointed to oversee the liquidation process in relation to the fireplace company, which had employed 11 people and has showrooms in both Derby and Nottingham.

“The Derby Fireplace Company has been a well-known family-run business for over 20 years, which many will know from seeing the showroom just off the A52 at the Wyvern,” Ms Matkin said.

“All 11 staff have been made redundant and the company has ceased trading. All stock including log burners, fires, fire surrounds and home accessories will be available for sale.

“The company’s Nottingham showroom, in Arkwright Street, is also available for sale and any interested parties should contact myself in the first instance.”

According to the Derby Telegraph, the Derby Fireplace Company’s main showroom in Derby was recently earmarked as the potential location of a new M&S Food store, with plans to that effect put forward by the local council in 2014.

However, the building in question was subsequently deemed to be of historical significance for Derby as it apparently dates back to the 1870s and was an important local railway services building.

Jonathan Munnery
Insolvency & Restructuring Expert
Is Liquidation the best option for you?

By completing the test, you will receive:

Your Liabilities & Assets
Types of Liquidation Available
Your Companies Health Risk
Alternatives to Consider
Related Articles
21/04/2023
Voluntary Liquidation Cases Up 9% On Last Year
The number of voluntary liquidation cases in England and Wales were up by 9 per cent in March as compared to the same month of last year.
Read more
17/04/2023
Fashion Retailer Dress Me Online Entered into Liquidation
A fashion retail brand known as Dress Me Online has been entered into liquidation after struggling to cope with an array of financial pressures in recent months.
Read more
31/03/2023
Soaring Cost of Steel Helps Push Engineering Firm into Liquidation
Steep increases to the cost of steel in recent months have helped force a Gloucestershire-based engineering firm into liquidation.
Read more
Ready to Liquidate?
Express Liquidation Service
Ready to start liquidating today? Complete the form and a member of our team will be in touch.
Please note: By completing this form you are not liquidating your company
Contact the UK Liquidators Team

If you are considering liquidation for your company, taking expert advice at an early stage is crucial. At UK Liquidators, our team of licensed insolvency practitioners are committed to providing limited company directors with the help and advice they need to make an informed decision.

  • Free initial consultation
  • Strictly confidential
  • Fully licensed insolvency practitioners
  • Local office support
  • Named case handler throughout
Logo Tma
Logo Business Recovery
Logo Cse
Logo Iip

Looking for immediate support?

Complete the below to get in touch

 
 
 
 
 
100% Free & Confidential Advice

This site uses cookies to monitor site performance and provide a more responsive and personalised experience. You must agree to our use of certain cookies. For more information on how we use and manage cookies please read our PRIVACY POLICY