Wrexham bed and furniture retailer goes into liquidation after sales decline

A BED and furniture retailer in Wrexham has gone into liquidation.

Trydan Retail, situated on Llay Industrial Estate, went into voluntary liquidation and this month Nick West and Phil Wood of BCR were appointed joint liquidators.

Mr West today told the Daily Post that the directors took the decision after a considerable decline in sales during the last quarter and the “deficiency to creditors” exceeding £50,000.

Illness suffered by both directors and an injury sustained by a key employee during 2016 added to the company’s difficulties.

Mr West said: “Following the decline in sales, the directors took swift action to seek specialist insolvency advice.

“With the supervision of qualified valuation agents, the company held a clearance sale before vacating the trading premises at the end of the month.

“This resulted in better realisations than could have been expected in a forced sale post-liquidation.”

Mr West emphasised: “In insolvent circumstances like this, the sooner directors take action the less risk there is of the directors becoming personally liable for trading insolvent.

“The directors of Trydan acted properly and acted in time.

“However, sadly, there was no option to rescue the struggling business.”