Furniture maker had to call in administrators.
Byline: ADMINISTRATION COREENA FORD email@example.com
ALUXURY furniture firm which crafted seats for the stars and global businesses including Google has called in administrators.
Founded 15 years ago, the Original Sofa Co had built up a reputation for its high quality handmade furniture, especially Chesterfields, which it sold in the UK and across the world in Europe, the US, and Scandinavia from its Team Valley base.
The opening of a showroom in London's exclusive Sloane Street also helped the small crafting company to secure international VIP clients, including Harry Potter star Jason Isaacs, Gladiator actress Connie Nielson, a Saudi oil baron, Harvard University's staff faculty, Harrods' Urban Retreat at Harrods, as well as producing a gold leather sofa for Alan Carr's Chatty Man programme.
The business, founded by David Robinson, suffered a fall in sales in recent months, however, ultimately leading to its insolvency.
Howard Smith and Jonny Marston from KPMG's restructuring practice were appointed joint administrators to The Original Sofa Company Ltd on October 24, and a stock sale has now been set in motion.
Five jobs have been lost at the manufacturer and retailer, which had clinched a PS100,000 investment from the Finance For Business North East Growth Fund administered by Newcastle's NEL Fund Managers to help set up its flagship London store.
A sale of the remaining stock of high quality Chesterfield sofas will take place from the company's showroom in Team Valley from October 31.
The administrators at KPMG said that in the absence of a buyer after an accelerated marketing process, the five redundancies were made.
They will now wind down the business, selling stock and other assets in order to provide a distribution to creditors.
Howard Smith, associate partner at KPMG and joint administrator, said: "The company had suffered a difficult trading period and despite an accelerated marketing process, a buyer was unable to be found.
"Our focus will now be on realising the assets of the business and supporting the employees through this challenging period."
The Original Sofa Company's methods were particularly labour intensive, with one Chesterfield taking up to 13 working days to create and costing up to PS15,000.
The sofas were made using oldfashioned hammer and tack construction methods, with traditional eight point hand-tied loose coil springs.
Any parties interested in viewing or receiving further information on the remaining furniture available for sale should contact Peter Brown on 0191 401 3999.
The company had suffered a difficult trading period and a buyer was unable to be foundHoward Smith
The firm made this gold sofa for the Alan Carr's Chatty Man show, seen here being used by Piers Morgan and Susanna Reid
David Robinson of the Original Sofa Co. The luxury furniture brand got into trouble after falling sales in recent months