A UK-based beds retailer, has been served with a winding up petition by HM Revenue & Customs (HMRC). The petition was filed in court last Friday and follows a previous winding up attempt against Highgate Beds, a company partially owned by Sueno Beds' majority shareholder, Asif Ayub. Records indicate that the Highgate Beds case remains open.
Photo: Sueno.
Winding up petitions from HMRC are typically dismissed if the tax claim is paid. Asif Ayub, who owns 80% of Sueno Beds and 25% of Highgate Beds, has been contacted for comment. His brother, Mazhar Ayub, who owns 25% of Highgate Beds but has no stake in Sueno, was also contacted during HMRC's filing against Highgate Beds last month.
Despite the legal challenge, Sueno Beds continues to operate with over 2,000 positive reviews on Trustpilot and ongoing sales through its Shopify-based e-commerce platform. The Ayub family also owns mattress maker Matza & Co and property letting company Highgate Investments, both of which had significant cash reserves in their last filed accounts. Sueno Beds is expected to file its accounts by the end of July, with Highgate Beds and Highgate Investments due to file their 2023/24 accounts next month.
Source: www.thefurnishingreport.com