FurnitureBarnThurrockCase goods supplier Global Home was owed £4.65m by retailers Furniture Barn Ltd and Furniture of Market Harborough Ltd, which entered administration late last year.

The Czech-owned furniture company, which has operations in Vietnam and customers worldwide, is the largest creditor of the retail chain.

Geoff Rowley and Nigel Hamilton-Smith of FRP Advisory were named joint administrators of the Furniture Barn Ltd and Furniture Barn of Market Harborough Ltd on 5th December.

Furniture Barn Ltd ran a store in Market Harborough with Furniture Barn of Market Harborough Ltd set up in 2012 as the vehicle to expand the format across the country.

On appointment, FRP continued to trade both businesses until 15th January, when it agreed a six month licence with newco Furniture Barn 2016 Ltd, which continues to run all stores except for a 10,000sqft unit on Rockingham Road in Market Harborough. Stores in Thurrock and Sutton Coldfield will close at the end of this month.

Furniture Barn 2016 Ltd’s directors are former Furniture Barn of Market Harborough Ltd director Nigel Hickman and Terry Maywood, who joined the retailer last year in a consultancy capacity.

Global Home is supplying furniture to Furniture Barn 2016 Ltd.

The former Furniture Barn store at Rockingham Road — which sold home accessories — was closed prior to the trading licence being agreed. The keys have since been returned to Richard Kimbell, who owned The Furniture Barn Ltd and 50 per cent of the Furniture of Market Harborough Ltd.

He plans to open a furniture store in the unit and formed another new company, called Original Furniture Barn Ltd, late last year. He also owns the Furniture Barn’s larger Market Harborough property at Riverside, which continues to be traded by Furniture Barn 2016 Ltd.

In its statement of proposals, FRP Advisory said creditors are unlikely to see a return from either business, with an expected shortfall of £1.9m from The Furniture Barn Ltd and £7.6m for The Furniture Barn of Market Harborough Ltd.

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