Takeover plans for Norwood Interiors

place and improving margins further by using its manufacturing facility.

But the statement said the market place shifted again and sales across the industry began to slow down as consumer confidence was affected by an increasingly uncertain economic climate.

It said: “Supporting the refurbishment and integration in Doncaster was absorbing cash flow and the Brighouse business decided it was time to exit this business to concentrate on the core company in Brighouse.

“However, in the second quarter conditions worsened further with weekly sales dropping to 50% of the levels achieved earlier in the year.

“The order book shrank from £700k to £275k forcing the directors to seek professional advice and with great regret it was concluded that the business could no longer trade.”

It said the directors and senior staff were working with insolvency professional Charles Brook, partner at the Huddersfield office of Poppleton and Appleby “to help find the best resolution and find a suitable buyer to take the business forward.”

Mr Brook said formal notices of the liquidation process were being sent out by first class post on Tuesday to all creditors, including customers who have paid deposits or larger amounts but have incomplete fittings.

A meeting of creditors is scheduled to take place on August 4 when a liquidator is expected to be appointed.