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19 jobs saved at Stratford furniture manufacturer All Sofas Limited which is now trading as Fina Furniture Limited




NINETEEN jobs have been saved at a Stratford soft furnishing furniture manufacturer which is now trading under a new name.

All Sofas Limited is now trading as Fina Furniture Limited.
All Sofas Limited is now trading as Fina Furniture Limited.

All Sofas Limited, based at Goldicote Park in Banbury Road, is now operating as Fina Furniture Limited and director Anna Lundgren will continue to lead the firm.

The news comes on the back of a pre-pack administration overseen by Brett Barton from restructuring and insolvency firm BLB Advisory. Pre-pack administration allows an insolvent company to sell its assets to a buyer before appointing administrators.

Anna formed the business in 2010 and all of its upholstered furniture is handcrafted at its factory in town for customers such as private landlords and interior designers, through to the hospitality and health care sectors.

After a decade of growth that saw the business generating around 300 orders a week, a combination of the pandemic followed by a 160 per cent rise in raw material costs over the past year from Europe, had pushed the firm into financial difficulty.

Anna said: “Over the past year we have seen the price that we pay for wood from Europe soar, which is one example of the challenge that we have been facing among other higher costs such as rising energy bills, not to mention the consumer impact of the cost-of-living crisis.

“We were in a position where we could not keep passing on the price increases to our customers, so after seeking professional advice we have undergone a pre-pack administration, which will enable us to continue to operate and safeguards the jobs of our loyal employees.

“We are now in a position where we are mapping out a slow and steady plan for growth over the coming years, as we aim to build on last year’s turnover of £1.3million.”

Brett added: “All Sofas Limited, now known as Fina Furniture Limited, has a track record of being a viable business, but like so many companies, they are facing multiple rising costs amid a cost-of-living crisis, and are in need of some support.

“This pre-pack administration has struck the right balance between enabling the business to continue trading without any operational disruption to employees, customers and suppliers, whilst providing the best possible outcome for creditors.

“It’s a good example of how seeking professional advice early can be the difference between survival, safeguarding many jobs, and a business going completely under.”



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