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Leading interiors supplier goes into administration
On 17th March 2022 Andrew Duncan and Alex Cadwallader of Leonard Curtis Business Rescue and Recovery were appointed as Joint Administrators to David Clouting Limited.
David Clouting Ltd is a privately-owned company operating as a leading supplier of materials into the UK domestic furniture and commercial interiors sector. It has been established for over 35 years and employed 13 people.
Since the beginning of the pandemic, the business struggled due to supply chain issues and increased transportation costs and has been unable to meet customer orders to maintain sufficient turnover to cover operating costs.
Although the Joint Administrators undertook an accelerated mergers and acquisitions process, unfortunately, a sale of the business as a going concern was not possible.
Approximately 50% of the workforce were made redundant immediately and the Joint Administrators have retained the services of the remaining employees while they undertake a limited trading operation to maximise realisations for the Companyes stock.
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Reach Commercial Finance Limited. Registered in England no 09056450. Leonard Curtis is a trading style of Reach Commercial Finance Limited. Leonard Curtis is a broker not a lender and is independent with access to the whole of market. We may receive commissions that will vary depending on the lender, product or other permissible factors. The nature of any commission model will be confirmed to you before you proceed. Authorised and regulated by the Financial Conduct Authority FCA no. 753686. Registered with the Information Commissioner’s Office reference ZA069234
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