The Joint Administrators for JDP Furniture Group Limited have announced the closure of subsidiaries JDP Frames Limited and Welbeck House Limited after buyers were unable to be found.
Nathan Jones and John Lowe from specialist business advisory firm FRP were appointed Joint Administrators to JDP Furniture Group Limited and its subsidiaries on Thursday 2 April 2020. All manufacturing operations had ceased by 25 March across the Group due to COVID-19.
Upon appointment, a marketing process was launched to find a buyer for JDP Frames Limited and Welbeck House Limited. However, no acceptable offers were received to maintain the businesses as going concerns.
As a result, the Joint Administrators have now permanently closed down the companies and made 281 staff redundant (JDP Frames: 76; Welbeck House: 205). A handful of core staff have been retained in the short term to assist the Joint Administrators in their duties within each business.
JDP Furniture Group Limited, the holding company for the group, has also been closed. A core team of staff has been retained in the short term to assist with the orderly wind down of the Group, while nine staff have been made redundant.
Meanwhile, the Joint Administrators continue to progress interest in H&F Upholstery, which trades as Arlo & Jacob, after acceptable offers were made for the business. A Company Voluntary Arrangement (CVA) is expected to be put to the Creditors of Celebrity Motion Furniture Limited as the Joint Administrators look to restructure the business and return control to the directors.
Nathan Jones, Joint Administrator at FRP, said: “Without any acceptable offers for JDP Frames and Welbeck House, these companies will now be fully wound down and, regrettably, staff made redundant. Following a consultation process, we’re supporting those affected staff with making claims to the Redundancy Payments Office.”