ICSM News: the retailers who have gone bust this year despite Covid regulations relaxed

Pic: Daily Record

ICSM News: the retailers who have gone bust this year despite Covid regulations relaxed

Customers and suppliers of the online retailer Luxury Home Furniture Limited, trading as “Shabby”, may be out of pocket after the Bradford based business enterer administration in February.

The administrators Inquesta Corporate Recovery & Insolvency have said they are trying to find a buyer but they said Shabby has insufficient cash to fulfil outstanding orders or to provide refunds to customers awaiting goods. Company Rescue reported that customers should contact their credit or debit card provider or payment platform to arrange a chargeback where possible.

It's an ill omen as more retailers since Christmas are hitting the buffers in the first weeks of the year. This month Dawnfresh called in administrators laying off 200 workers in Uddington north of the border while selling its Arbroath plant.

Another casualty is Studio Retail in Accrington with 1,500 staff that has entered administration in February. They specialised in clothing, electricals, homeware and gifts. Two more victims of insolvency are Big Home Shop who sell garden furniture and Physioroom who sell exercise equipment.

Trinity Group hit the rocks in January – they are a ‘heritage’ fashion businesses that includes Kent & Curwen, Gieves & Hawkes, D’Urban (Japan) and Cerruti. These companies are also currently being liquidated: BML Fashion Limited, Colson Retail Limited, First Care Fashions, Greenwoods Kitchen, S & S Records and many more as listed in ICSM’s regular newsletters.

ICSM said it was a tragedy so many retailers are going bust as they were supplied by a long list of businesses many of which will not only not get paid but have lost a customer.

About ICSM Credit

ICSM Credit has more than four decades of experience as a credit intelligence group whose members gain inside information about firms in trouble allowing them to avoid bad debts and rogue traders. To join costs less than a tank of fuel - while at the moment there's a special free temporary membership offer during the Covid-19 crisis which gives access to free legal letters. ICSM also has an effective debt collecting service which has a global reach - ask for details from Paul.

For details about ICSM Credit call 0844 854 1850 or visit the website www.icsmcredit.com or email Ian at Ian.carrotte@icsmcredit.com on how to subscribe and to join the UK’s credit intelligence network to avoid bad debts and late payers. Follow ICSM Credit on FaceBook, Twitter and YouTube and Ian Carrotte on LinkedIn.

To keep up to date subscribe to the FREE ICSM Credit Newsletter to hear all the latest insolvency news and to see who has gone out of business click on the orange panel on the top left of the home page of the website www.icsmcredit.com or send an email to Ian.carrotte@icsmcredit.com

For details for the work of the journalist Harry Mottram visit www.harrymottram.co.uk


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