Fireplace company extinguished as jobs are axed
Eleven jobs have been lost after a Derby- and Nottingham-based supplier of fireplace products slipped into liquidation.
Lucinda Matkin of LM Insolvency & Advisory was appointed liquidator of The Derby Fireplace Company on Monday 27 June.
The Derby Fireplace Company suffered from a shift in market preferences towards online retail, resulting in a fail in sales of a number of years, she says.
Matkin added that the Company had considered a CVA (Company Voluntary Arrangement) process, and making cost savings by condensing the business down to one showroom, by closing its Nottingham showroom.
The Company also tried the introduction of interest free credit and the launch of a new Company website) in an attempt to increase sales; however these initiatives failed to generate enough sales to sustain the business long term, and the directors of the company chose a CVL (Company Voluntary Liquidation) instead.
Matkin said: “The Derby Fireplace Company has been a well know family run business for over 30 years, which many will know from seeing the showroom just off the A52 at the Wyvern, Derby.
“All 11 staff have been made redundant, and the company has ceased trading. All stock including log burners, fires, fire surrounds and home accessories will be available for sale via auction through our agents, John Pye & Sons.
“The Company’s Nottingham showroom at Arkwright Street, Nottingham is also available for sale, and any interested parties should contact me in the first instance.”
