Furniture firm relaunch after collapse

A Sheffield furniture manufacturer has relaunched after being bought out of liquidation by a director, saving all 11 jobs.
By The Newsroom
Published 15th Jun 2016, 12:14 BST
Updated 15th Jun 2016, 12:18 BST

Anico Interiors Ltd, which made reclining chairs for the elderly, was shut down after suffering cash flow problems and losses.

Director Nick Wall purchased the assets and business of Anico and re-launched it as Designer Recliners.

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Andy Wood and Robert Dymond from Sheffield business turnaround firm Wilson Field were appointed joint liquidators on June 8 and advised on the sale of the 14-year-old company, based on Orgreave Crescent at Orgreave Industrial Estate.

Andy Wood said: “The company has now streamlined its offer and cut out some unprofitable lines, as well as re-vamped its website. Directors took advice from Wilson Field with the business sold to new company Designer Recliners Limited as a going concern, safeguarding all 11 jobs.

“The new company will focus on a smaller range of specialised products.”

The firm employs upholsterers, seamstresses and cutters and was set up in 2002 by Nick Wall.

The amount owed to creditors at the time of the liquidation was not disclosed.