Interiors (Europe) LTD

Successful Restructuring for Interiors (Europe) LTD

Despite a peak turnover of £2.4m in 2004, the loss of further contracts were on the line for the interior designs company. This was a major concern for not only the directors, but also for the employees and outstanding creditors who have a vested interested in the firms future.

In 2008, the firm was restructured into specific businesses to offer dedicated services such as maintenance and exterior decoration services. These actions were not enough to overcome the mounting debt, and the business entered in a CVA in late 2010.

Five years on, the Company lost one of its major clients and were unable to carry out the orders within its CVA as a result. SFP’s Simon Plant and Daniel Plant were appointed as Joint Administrators to try and save the business.

Restructuring was on top of the agenda for the Joint Administrators, who were able to assist the business to overcome the petition to wind up the business, “This interior design company was part of a group structure that had the ability to continue trading if it was restructured,”

“Following our appointment we have been able to regularise the position of the company and enter into an agreement with an associated entity to maximise realisations. Many of the company’s existing customers were contacted to help the continuity of the business and protect goodwill that salvaged certain trading relationships. A dividend is anticipated to unsecured creditors in this matter, which is a pleasing outcome.” – Simon Plant, Joint Administrator.

“Their communication and support throughout the whole process was outstanding, I would recommend their services should a business find itself in difficulty.”

Five Times Winner
Best Business Recovery Specialist

“I found working with the team at SFP easy and professional. They told me what was going to happen, when and how it would be managed; then they did their job.”

“Excellent Service. Introduced our company to other companies that has helped move our business forward.”

Six Times Winner
Best Asset Based Finance Broker