Mike Dillon and Katy McAndrew, of Leonard Curtis Business Rescue & Recovery, were appointed as Joint Administrators of Fuse Contract Furniture Limited, one of the UK’s largest manufacturers of handcrafted contract furniture for the hotel and leisure industry, on 2nd July 2020.
Based in Blackburn, Lancashire, the company employed 36 people and had been trading for seven years.
Mike Dillon, Associate Director at Leonard Curtis, said: “The severe impact of coronavirus on the leisure and hospitality sector made it impossible for the business to continue to trade.”
The Joint Administrators confirmed that the business and assets were marketed upon appointment until 9th July and that 11 enquiries were received. A sale of assets – including unencumbered and intangibles – has since been agreed with a third party. All 36 employees, the majority of whom were furloughed, have unfortunately been made redundant.
Mike Dillon continued: “We understand that the buyer may contact historical customers to resurrect the business, which may include entering into a new lease agreement with the landlord, potentially re-employing some staff and assisting the Administrators in completing snagging works to release retention monies.
“We will ensure that the redundant employees receive their claim entitlements from the Redundancy Payments Service as soon as possible.”
Leonard Curtis Business Rescue & Recovery is part of Leonard Curtis Business Solutions Group.
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