EREWASH BUSINESS

JDP FURNITURE GO INTO ADMINISTRATION

Hundreds of jobs are at risk after Long Eaton-based furniture group JDP Furniture slumped into administration. The firm a holding company for Welbeck House, Wade Upholstery, JDP Furniture, JDP Frames, Ikon by Celebrity, Cintique, Celebrity and Arlo and Jacob brands, have appointed FRP Advisory as administrators. The company who make and import furniture has a showroom in Wellington Street, Long Eaton. Three years ago, after declining sales it made 32 people redundant and put a halt to sales to the independent retail sector. Following its latest set of accounts, JDP Furniture pointed to difficult trading conditions as a reason for revenue dropping.

The company said trading conditions had been “difficult” as it reported its revenue had dropped from £43.2m to £37.6m. The company have lost a total of £5.5m over the last two years, with revenues dropping by over £10m. JDP employed 540 people at its Long Eaton plant. 

TURNOVER DOWN AT GILLS

The turnover at Gill Marine Holdings, dropped and its pre-tax losses widened during the latest financial year. The Long Eaton based firm has reported a turnover of £15.8m for the 12 months to 30th September 2019, down from £17.2m. Over the same period its pre-tax losses went from £251,401 to £1.6m. Gill producers a wide range of accessories and clothing which is exported to more than 40 countries. The figures follow YFM Equity Partners departure having sold its stake in the company at the end of 2018. The accounts were filed with Companies House on 5th April after being signed off on 13th March, while the Covid-19 pandemic was starting to hit the UK economy. A statement by the board said: "In 2019 the company has faced turbulent economic conditions including the ongoing Brexit situation. Despite this difficult environment the company has continued to invest in order to increase brand awareness. The directors are happy with the strength of the group's balance sheet and expectations are that we will see improvements and growth in 2020."

NURSERY GROUP KEEP DOORS OPEN

Children 1st Day Nurseries, which is based in Long Eaton is managing to keep its doors open for children of key workers thanks to a £1.6 million funding boost. The group has 24 sites across the Midlands and South Yorkshire and is managing to keep its sites open throughout the coronavirus crisis after securing a loan from Lloyds Bank. The family-owned business employs 600 people and has continued to provide care for children whose parents are key workers, since the Government’s shutdown of schools and nurseries. Never the less the group has faced a significant fall in revenue since the lockdown, with just 15% of around 4,000 children it usually provides care for currently attending its nurseries. Children 1st has also suspended nursery fees for parents facing financial hardship during the Covid-19 pandemic.