Steven Muncaster of Duff & Phelps, was appointed Administrator to Dudley based Ultra Furniture Limited on June 6th 2018. Ultra Furniture was a leading UK upholstery manufacturer working with some of the UK’s best known upholstery retailers and high-street brands at the same site for over 30 years. It had continued to develop its facilities, design capabilities and quality systems to be able to provide an unparalleled service to its customers and operated a dedicated production site based in Kingswinford, Dudley in the West Midlands, employing 160 people.
Steven Muncaster, Duff & Phelps, stated: “Ultra has been directly impacted by the announcement that Tesco Direct is being closed in July this year, given that it accounted for over 70 per cent of the Company’s sales. The Directors of the business are clear that at this stage that the business as it currently stands cannot continue to trade following the loss of such a major customer.”
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