Almost 300 jobs lost at furniture group
Some 290 jobs have been lost at Long Eaton based JDP Furniture Group after administrators failed to find a buyer for two of its subsidiaries.
Nathan Jones and John Lowe from FRP were appointed Joint Administrators to JDP Furniture Group and its subsidiaries on Thursday 2 April. All manufacturing operations had stopped by 25 March across the firm due to COVID-19.
Upon appointment, a marketing process was launched to find a buyer for JDP Frames and Welbeck House. However, no acceptable offers were received to maintain the businesses as going concerns. As a result, the joint administrators have now permanently closed down the companies and made 281 staff redundant (JDP Frames: 76; Welbeck House: 205). A handful of core staff have been retained in the short term to help the joint administrators wind down each business.
JDP Furniture Group Limited, the holding company for the group, has also been closed. A core team of staff has been retained in the short term to assist with the orderly wind down of the Group, while nine staff have been made redundant.
Meanwhile, the joint administrators say they have received interest in H&F Upholstery, which trades as Arlo & Jacob, after acceptable offers were made for the business. A Company Voluntary Arrangement (CVA) is expected to be put to the creditors of Celebrity Motion Furniture as the joint administrators look to restructure the business and return control to the directors.
Jones said: “Without any acceptable offers for JDP Frames and Welbeck House, these companies will now be fully wound down and, regrettably, staff made redundant. Following a consultation process, we’re supporting those affected staff with making claims to the Redundancy Payments Office.”