old

The liquidation of the company behind the privately-owned Turners Furniture business that traded from stores at locations including Shrewsbury and Wrexham has left creditors owed more than £1.8 million.


Turners Furniture For Living was placed into the hands of insolvency practitioners Rajnesh Mittal and Steven Stokes of the Birmingham office of FRP Advisory late last month.


New statutory filings reveal its owner and director Alan Turner was owed £800,000 by the company; with Shropshire, Wrexham and Warrington Councils also collectively owed over £200,000.


Secured creditors, including HSBC, faced a shortfall on the sums they were owed according to the Statement of Affairs posted at Companies House.


Five furniture and mattress suppliers were among those owed five and six-figure sums by the company (see related) with HMRC owed £40,887 in combined PAYE and VAT.


No-one answered when The Furnishing Report called the retailer's Shrewsbury store on both Thursday and Friday of last week. It is not known if the business continues to trade through a different structure or if it has permanently closed.


Related Story
Debt Report: Oct. 20, 2017

To Read The Full Story:

ADVERTISEMENT