old

bedworld04062015Ecommerce retail brands Bedworld and Saso are back trading again through a different corporate structure after the previous one was liquidated.


Both websites list Saso (UK) Ltd as the operator of the websites. Saso (UK) is a previously dormant company set up in 2012. The temporary cessation of trade noticed posted on both websites has since been removed.


Saso (UK) shares common ownership and directors with Bedworld (North) Ltd, which ran the sites until they ceased trading earlier in the spring.


Bedworld (North) was placed into liquidation through Focus Insolvency Group on 15th May. Statutory filings show that creditors faced a deficit of around £1m.


There was no mention of stock on its list of assets, though there was just under £35k in cash.

The biggest creditors are Google (£265k), Yahoo (£93k) and HMRC (£70k) while a number of furniture and bed industry suppliers are owed substantial five-figure sums. Chargeback claims are estimated at £50k. Barclays Bank, believed to be Bedworld North’s only secured creditor, is owed next to nothing.


For more on creditors, see the Debt Report tomorrow (5th June).


At its peak, the Bedworld/Saso business is understood to have generated annual sales of approaching £7m, less than previously thought (£10m), though neither figure could be independent verified.


The Furnishing Report tried to call Bedworld and Saso but its telephone number was an answerphone message encouraging consumers to visit its Savile Road warehouse showroom in Castleford. Previous attempts to call the owners were unreturned.


Last week, the Bedworld/Saso voicemail message was a recording saying the brands had ceased trading and been placed into liquidation.

Related: Ecommerce retailers Bedworld & Saso cease trading