A well-established premium furniture and home accents retailer has been saved following an insolvency restructure. The company, based in Altrincham, was placed into administration last week, with Mike Dillon and Rochelle Schofield from restructuring firm Leonard Curtis overseeing the process.
Photo: Rose & Grey.
Rose & Grey, the retailer in question, is now operating under a newly formed entity, R&G Shop Limited, which was established in April 2024. Former owners and directors Lyndsey and Guy Goodger have joined the board of the new business after the New Year period. The shares of R&G Shop are currently held by launch directors Anne and Trevor Bartlett, although their future role with the company has not yet been clarified. The reasons behind the company's financial difficulties and the circumstances surrounding the insolvency have not been fully disclosed.
Founded over 16 years ago by Lyndsey and Guy Goodger, Rose & Grey has built a reputation for offering design-led homeware, furniture, and made-to-order upholstery. The company expanded in 2016, opening a warehouse and showroom in its home town of Altrincham. It was around this time that NatWest, the only publicly listed creditor, was granted a charge over the company's assets. The impact of the insolvency restructure on creditors and other stakeholders is still not clear.
The Furnishing Report, which first reported on the situation, also revealed that the predecessor company, Rose & Grey Limited, had filed a notice of intent to appoint administrators before Christmas. Attempts to contact Leonard Curtis and Lyndsey Goodger for further details before the restructure went unanswered.
Despite the uncertainty surrounding the company's financial troubles, Rose & Grey's new structure under R&G Shop Limited offers hope for a fresh start. It remains to be seen how this change will affect the brand's operations and relationships with stakeholders in the coming months.
Source: www.thefurnishingreport.com