DEALS & RESTRUCTURING
Restructure at DaVinci after administrators appointed
Published 06.01.2012 06:00 | Last Updated 06.01.2012 06:00
Private investors are restructuring the circa £6m Staffordshire furniture importer DaVinci after insolvency specialist Leonard Curtis was appointed as administrator in the lead up to Christmas.
Paul Reeves and Andrew Poxon of Leonard Curtis' Bury office were installed on 15 December. The Furnishing Report was told that staff are yet to learn the identity of the new investors in the company, but that md Adrian Kelly remains with the business in a consultancy capacity.
DaVinci, based in Stoke-on-Trent, is one of the UK's larger furniture import operations, and specialises in leather upholstery. Sales for its most recent two year's trading haven't been disclosed, but it is known to have achieved annual sales of £4.7m and £6.3m in 2007 and 2008 respectively.
The holding company for DaVinci Furniture is Soflex Furniture Ltd, a company registered in the British Virgin Islands.