Trio of directors banned

THE last of three directors has been disqualified from holding a directorship for 11 year over offences committed at a furniture retailer.

Wajid Hussein, 44, was involved in selling furniture under the ‘I Sleep’ brand. Companies in the group are known to have traded at premises in Dewsbury Doncaster, Goole, Castleford and Wakefield.

He was a director of I Sleep Ltd, along with Shazam Hussain, 37, and Yaser Ali, 34, director of Goole Furnishings.

Hussein and his accomplices were charged with financial offences between 2010 and 2014 as well as selling unsafe furniture. The Court at Manchester District Registry heard that customers’ prepaid-for goods were not delivered at all, delivered in part, not the items ordered and paid for with customers being unable to obtain replacements or refunds.

Hussein allegedly kept inadequate accounts and made it impossible for investigators to identify the extent of its relationship with other companies in the group or account for payments to the group.

Investigators were unable to account for payments made to I Sleep’s bank account from 1 January 2012 up to Hussein’s resignation as sole director on 15 March 2013 totalling at least £651,118.

It also could not determine if rental and other associated costs of £621,216 charged in 2012 to an associated company were made in the best interests of the company.

I Sleep Ltd, Foxton Furniture Group Limited and Goole Furnishings Limited were wound up by the Court in the public interest on 8 January 2014 following petitions by the Secretary of State for Business.

Yaser Ali and Shazam Hussain were both banned for 9 years.

Official receiver Ken Beasley said: “These companies traded with no due regard to their customers, leaving many significantly out of pocket and causing distress and anxiety. In addition, by selling unsafe furniture even after being notified that it was unsafe the directors of these companies showed no regard for the safety of their customers.

“The Insolvency Service has strong enforcement powers and we will not hesitate to use them to remove dishonest or reckless directors from the business environment as has been demonstrated in this case.”

 

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