Lee Mill Furnishings closes down
BEDROOM and lounge furniture retail specialist Lee Mill furnishings has closed its doors and gone into liquidation after 25 years of trading.
The Bacup-based business, which traded from 7,000 sq ft of space on Newchurch Road, was started over 25 years ago by its current director, Phil Hellawell.
However, the business struggled after a period of difficult trading and changing in living habits.
A sales decline in 2010 continued in 2011 and despite moving into smaller premises and cutting back its range to focus on core bedroom furniture ranges, the company was unable to stem losses.
Kevin Lucas of new insolvency firm Lucas Johnson has been appointed as liquidator of the company.
He said: “It’s a shame to see such a long established business being forced to close because of the unbelievably tough economic climate facing retailers at the moment.
“This, coupled with less and less items needing storage space in your home such as hang-on-the-wall TVs, iPods and docking stations, mean there is a shrinking demand for occasional furniture.”
He added that one of the company’s directors had also suffered an injury, which forced them to reassess their future plans.
“It was pleasing to note, however, that the closing down sale was a phenomenal success and generated a significant amount of funds to return to creditors.”
