Administrators appointed to furnishings company hit by cash flow problems

Steven Muncaster and Sarah Bell, both of Duff & Phelps, were appointed as joint administrations of Burnley-based Textile Imports Limited, on January 31.

The joint administrators are continuing to trade the business while a buyer is sought.

Established in 1953, Textile Imports manufactures, designs, imports and distributes a range of branded home furnishings, supplying online and retail businesses of all sizes.

The company, which trades from Network 65 Business Park, Hapton, owns the brands Hamilton McBride and Home Creations.

Joint administrator Steven Muncaster said: “The company has faced a series of cash flow challenges in recent months as a result of a poor trading position.

“This has been driven, in part, by the softening of consumer demand which has depressed spending.

“It is, however, our stated intention to continue to trade the business as we search for a buyer and would encourage anyone who is interested to contact us,” he added.

The company employs 33 staff, of which 22 have been made redundant following the appointment of Duff & Phelps.