Joint administrators Phil Deyes and Sean Williams of Leonard Curtis Business Rescue & Recovery have confirmed today that Kingstown Group of Companies has ceased production and closed down.
The Group had two trading arms – Kingstown Furniture Limited and Consort Furniture Limited – and was a long-established business in Hull, employing around 280 people. It specialised in the manufacture of a range of bedroom and dining furniture and supplied many well-known, high street names as well as local retailers across the UK.
In spite of attempts by the group to restructure operations and continue trading, Administrators have now taken control of both businesses and are in the process of winding down operations.
Phil Deyes comments: “The market conditions faced by these two companies has been ex-tremely challenging. Both have seen turnover fall dramatically, impacted mainly by a sharp decline in discretionary spending by UK consumers. Economic uncertainty continues to influence spending decisions, with little foreseeable improvement in demand.’’
He continues: “We are now focused on closing down operations, working with the customers to fulfil orders where we can and helping all employees work through the implications of being made redundant as a result of the immediate cessation of trade.’’
‘’We are also seeking urgent expressions of interest in the remaining assets of the Group, in-cluding the Kingstown and Consort brands, intellectual property rights and associated order book.”
Direct enquiries to the administrators firstname.lastname@example.org