Kitchen and bedroom furniture manufacturer Grange Interiors has entered liquidation owing creditors over £200,000.
Steven Ross and Allan Kelly, both of FRP Advisory, were appointed as joint liquidators of Grange Interiors (NE) Ltd on 15 September 2020.
Detailed in newly filed documents on Companies House, the business owed unsecured creditors a total of £236,000, with the majority being owed to trade claims valuing a combined sum of almost £90,000.
Other creditors include the HMRC, owed £55,000, HSBC Bank, owed £50,000, employees, owed £14,000 and a directors loan of £26,000.
It is anticipated that only £10,700 will be made available for unsecured creditors from realised assets, resulting in a total shortfall of £225,000.