The administrators who saved a high-end furniture manufacturer, after the business was hit by Brexit complications and the pandemic, have appointed CAPA to audit sites the firm operated from.
After rescuing Showcase Ltd through a pre-pack administration process, corporate recovery firm Moorfields instructed CAPA to conduct rates audits on every site the manufacturer occupied.
Based in Crawley, Showcase had designed and manufactured high-end furniture for commercial and residential properties for more than 30 years, trading profitably up until the last two years, when a combination of the pandemic and Brexit-related issues impacted the business.
While orders disappeared when lockdowns took hold, the company also faced delays in obtaining building materials due to post-Brexit rules, which affected timings of its projects.
Ultimately, Andrew Pear and Richard Keley at Moorfields were appointed administrators in May this year.
Upon their appointment, they were able to save employees’ jobs and the wider business and its assets, by selling the company to a connected party through a pre-pack administration.
Having rescued the company, the administrators have now called on CAPA to undertake the rates audits.
The team will use bespoke software to carry out forensic inspections of sums paid out to local authorities at the various locations Showcase traded from.
They will look to identify anomalies or errors, before recovering any overspend, thereby boosting the overall returns to creditors of Showcase.