Sofa Workshop’s auditor has issued a warning that the company may not be able
to carry on trading unless it gets another injection of cash.
The firm said that there was a material uncertainty as to whether the
company, which has 32 stores, could continue as a going concern in the face of
hostile economic conditions.
BDO said that Sofa Workshop had ‘no other finance facilities in place’ in
its accounts: ‘Due to the current economic climate, there is uncertainty as to
whether trading can be maintained at the level necessary for the company to
operate without need for further funding from shareholders or third-party
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies
Smith & Williamson has been appointed administrators of charity 4Children