A LEEDS kitchens, bedrooms and bathroom retail operation folded leaving creditors owed approaching £1 million and its parent company even more in preference shares.

The company—called Norwood Interiors Leeds but subsequently renamed NWIL Collections—was placed into liquidation through Darren Brookes and Molly Monks of Milner Boardman and Partners on June 14 this year.

Statutory filings indicated creditors faced a shortfall of £864,741, including more than £200,000 to HM Revenue & Customs.

Suppliers including J&J Ormerod are listed with an outstanding debt of £108,917, while Norwood Interiors Brighouse, the company behind another of Norwood Interiors' stores, is also owed money.

Parent company Turnaround Capital, which shares a director in common with NWIL Collections, had invested nearly £2.2 million into the circa £3.4 million turnover company in preference shares, according to the statement of affairs document lodged with the Companies Registrar.

Other Norwood Interiors branches continue to trade and are held separately.

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