Chinese furniture import business Home Design International Ltd has entered liquidation owing creditors over £4m.
Steven Hodgson and Christopher Wood, both of BHP Corporate Solutions LLP, were appointed as joint liquidators on 17 December 2020.
Detailed in newly filed documents on Companies House, the business owed unsecured creditors £4.082m, with £2.1m being owed Bazhou XiangHong Furniture Co Ltd – a Chinese-based manufacturer that specialises in dining room furniture.
Other creditor claims included £1.6m owed to French VAT firm Direction Generale Des Finances Publiques, £57,000 to the HMRC, £300,000 to NatWest Bank and almost £12,000 in a directors loan to Prabhat Rai.
It is expected that all creditors will suffer a shortfall of the entire amount due to no funds being realised.
It also marks the second insolvency for co-company director Prabhat Rai following the liquidation of furniture retailer P N Home Ltd back in March 2020.
This company owed creditors just over £380,000 and also included sums of £80,000 and £196,000 to Bazhou XiangHong Furniture Co Ltd and Home Design International Ltd respectively.