Posted 26th Nov 2018

Canburg files for administration due to economic uncertainty

26th November 2018 - 13:05pm
money matters, canburg, administration, kbb, kbbdaily

Luxury furniture group Canburg Limited – owner of Smallbone of Devizes, Mark Wilkinson Furniture, and Brookmans – has fallen into administration, according to Sky News, due to economic uncertainty.

According to Sky News, the group has filed a notice of intention to appoint accountancy firm Grant Thornton as administrator. Sky News noted that sources have said Canburg has been “struggling for some time and had been exploring a potential sale in recent months”.

Venture capital firm Business Growth Fund is an investor in the business, having injected £8m into the group in September 2014.

Canburg recently appointed Ian Gray as its new executive chairman following the departure of CEO Leo Caplan. In September last year, Martin Gill left his role as chief operating officer after 18 months in the position.

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