Long Eaton-based Acclaim Upholstery Company Limited has entered into administration following a difficult trading period. Inflationary pressure saw the bespoke furniture manufacturer struggle with rising costs and the impact of finance repayments, alongside a drop in sales.
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 cashflow, which were exacerbated by inflationary pressure.”
The administrators have actively marketed the business for sale for which there has been a healthy level of interest in purchasing the assets.
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