West Midlands-based furniture manufacturer Ashcraft Furniture Limited has entered insolvency for the second time.
James Martin and Mark Newman, of CCW Recovery Solutions, were appointed as joint liquidators on 13 October 2016 after the company, formerly known as AFL International Ltd, racked up a creditor bill over £460,000.
Details of the insolvency has been revealed by the practitioners filed report on Companies House, highlighting that the former Argos supplier, Ashcraft owed more than £218,000 to trade creditors, as well as a HMRC bill of over £29,000.
Also included within unsecured creditor claims is a £115,000 employees redundancy and notice pay shortfall.
The latest insolvency marks the companys second since it went into…
Read the full article at: https://www.cabinet-maker.co.uk/manufacture/furniture-manufacturer-enters-insolvency-for-second-time/15635.article
