A decades-old Nottinghamshire business, Home Curtains UK Limited, will be placed into administration after bosses made an 'incredibly difficult' decision over its future. Established in 1986 and based in Sutton-in-Ashfield, the company will shortly appoint administrators after becoming unable to cope with inflation and lower customer spending.
PKF Smith Cooper, which will be tasked with sorting out the affairs of the Stoney Street company, said it had struggled to make a profit despite its 'formidable reputation' as an importer and retailer of curtains, accessories and lace. The firm employed 33 workers as of February last year, according to Companies House documents. A director of Home Curtains UK Limited, who issued a statement ahead of the firm entering administration, said the decision had been incredibly difficult and not taken lightly. They said: “It is with great regret that we announce that Home Curtains UK Limited is to shortly enter administration. 'Like many businesses in the retail and home furnishings sector, we have been deeply affected by the rising costs of trade and reduction in consumer discretionary spending. We want to express our gratitude to our incredibly long-serving employees for their hard work and dedication and our loyal customers.' The director added that bosses were optimistic that a deal could be made to preserve some part of the business and prevent its liquidation. Administrator Dean Nelson of PKF Smith Cooper, who said the business had been badly hindered by the ballooning prices of materials, shipping and energy, intends to keep the firm trading for a couple of months to sell its existing stock. Mr Nelson, who is head of business recovery and restructuring at PKF, added: “Home Curtains UK has faced significant challenges over recent months, including rising costs and an unfavourable economic environment. We are working closely with the company's management team to explore all available options to secure the best possible outcome for all stakeholders. 'It is my intention to trade the business over the next couple of months, undertaking substantial price reductions, to maximise sales over our substantial quality stock ranges, and I would urge the trade and public to take advantage at this challenging time for the company.