Hundreds of jobs at risk as furniture manufacturer enters administration
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A Long Eaton-based furniture group has slumped into administration, putting hundreds of jobs at risk.
JDP Furniture, which is a holding company for the Celebrity Motion Furniture, Welbeck House, Wade Upholstery, JDP Frames, Ikon by Celebrity, Cintique, Celebrity and Arlo & Jacob brands, has appointed the Leicester office of FRP Advisory as administrators.
The company is a maker of importer of furniture. In 2017 it made 32 people redundant after declining sales of its Wade brand put a halt on its sale to the independent retail sector.
In the company’s latest available accounts for the 12 months to 29 September 2019, JDP said that trading conditions had been “difficult” as it reported a drop in revenues from £43.2m to £37.6m. Over the last two years, the company had lost a total of £5.5m with revenues dropping by over £10m. The accounts weren’t filed until January of this year.
The accounts show that JDP employed 540 people at its Long Eaton plant at the time.