All jobs lost as Black Country furniture firm enters administration
All remaining staff at a Black Country-based furniture manufacturer have been made redundant after the firm entered administration.
Around 150 people lost their jobs with the sudden closure of the Sven Christiansen factory at First Avenue, Pensnett Estate, last month.
Efforts to find a buyer for the company had been unsuccessful.
Its working capital was negatively impacted by the Covid-19 pandemic and Brexit.
Despite registering record customer orders, the company had built up a considerable debt pile during the pandemic and performance was said to have been disrupted by the implementation of new IT systems.
Diana Frangou and Glen Carter of RSM UK Restructuring Advisory were appointed as joint administrators to Sven Christiansen on March 3.
Diana Frangou said: "The cashflow issues were such that, following the lack of a buyer for the business as a going concern, the directors had no alternative but to cease trading and to place the company into administration.
"Regrettably, the company had to make the staff redundant prior to our appointment. Our first priority is to assist them with making their claims from the Redundancy Payments Office and offer general support and advice in these difficult circumstances."
Sven Christiansen had been trading for 47 years, with the majority of its staff based in the Black Country.
All remaining furniture in its showrooms and design studio are being sold and machinery and equipment has been sold at auction.
