Filter news by:

FRP Advisory appointed Administrators to RK Furniture

18 July 2011

30 year old company in York enters administration

Phil Armstrong and Steve Stokes of FRP Advisory LLP, the specialist restructuring, recovery and insolvency firm, were appointed Joint Administrators on 7 July 2011 to office furniture manufacturer and wholesaler, RK Furniture.

The company was placed into administration following financial difficulties caused by difficult market conditions, resulting in the firm being unable to continue trading.

Based in Tholthorpe, York, RK Furniture supplied office furniture to retailers across the UK and employed 45 members of staff. The company traded for over 30 years, with an annual turnover of £2.5million.

Commenting on the appointment, Philip Armstrong said: "The recent decline in public and consumer spending has hit retailers hard, impacting suppliers such as RK Furniture, as demand for their products has declined.

"A drop in income severely affected the company's cashflow and, although a buyer was sought, a sale of the company could not be achieved. Sadly, all of RK Furniture's employees have been made redundant and the company has ceased trading.

"We are now working to recover as much value as possible for creditors, by selling the company's remaining assets."

RK Furniture specialised in manufacturing wooden office furniture from desks, tables and pedestals, to bookcases, filing cabinets and cupboards. Its site in York includes a 120,000ft warehouse.

Interested parties in the sale of the assets should contact us using the online form below.

Press contacts

Rebecca Bannister, Grayling
Tel:   +44 (0)121 265 2763
Mobile: +44 (0)740 732 884