Funding platform and HMRC worst hit following manufacturer liquidation

Furniture manufacturer Infinity Commercial Upholstery has entered liquidation with creditors expecting a shortfall of almost £400,000.

Glyn Mummery and Paul Atkinson, both of FRP Advisory, were appointed as joint liquidators on 3 December 2020.

According to newly filed documents on Companies House, the business, which was formerly known as Essex Commercial Upholstery Limited, owes unsecured creditors £367,000, while secured creditors are owed £33,000.

The latter will only receive just under £3,000 from realised assets.

Meanwhile, within the unsecured creditor claims includes £125,000 owed to the HMRC, £72,000 to employees and £103,000 to Funding Circle.

It is expected that no funds will be available for creditors, resulting in a shortfall of £398,000.