Begbies Traynor appointed administrator of furniture maker

Begbies Traynor has been appointed administrator of Long Eaton-based Acclaim Upholstery Company Limited, following a difficult trading period. 

The company will be aided in the administration process by Martin Buttriss and Carolynn Best at the firm in Leicester. 

According to the bespoke furniture manufacturer, inflationary pressure made it struggle with rising costs and the impact of finance repayments, alongside a drop in sales. 

As a result, all 128 employees of the business have been made redundant. 

However, the administrators have actively marketed the business for sale, for which there has been a healthy level of interest in purchasing the assets. 

Martin Buttriss, administrator and partner at Begbies Traynor, said: “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 cash flow, which were exacerbated by inflationary pressure.”