Furnishing trade shows resilience in 2021
January 6, 2022
Company insolvencies in the flooring and furnishing traders jumped in the final quarter last year but the sector is still stronger than in 2019.
Data compiled by The Furnishing Report shows 88 companies across the industry filed for either liquidation or administration in the last three months of 2021, up from 58 in the third quarter of last year, and 60 in the final period of 2020.
The jump is associated with the end of some of the Government's pandemic support schemes, including furlough, during the period.
But the annual figures paint a more encouraging picture. There were 234 company failures in the sector during 2021, down from 304 in 2020 and 348 in 2019.
Insolvent companies from the U. furnishings sector left creditors facing a shortfall of £90.2 million on their debts, down from £538.7 million in 2020 when there were more large company failures and insolvent restructures.
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