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05
Nov
Harrogate showroom closes as firm enters administration
A national tile chain with a Harrogate showroom has fallen into administration.
Fired Earth, which was launched at an Oxfordshire farm in 1983, was placed into administration on Friday (October 31).
Dane O’Hara and Alex Cadwaller, of restructuring firm Leonard Curtis, have been appointed joint administrators.
Fired Earth’s website says all showrooms including the Harrogate site, which has been a longstanding fixture on Swan Road, are currently closed.
The company turned over nearly £15 million last year, but saw an operating loss of £1.67 million over the same period.
According to national media reports, Mr O'Hara said:
Fired Earth has been loss-making for some time.
In the last three years, the company has been supported by its shareholder via substantial working capital loans while efforts were made to return the business to profitability.
Unfortunately, the company continued to incur trading losses, and its investor was not prepared to provide further funding in the absence of a viable turnaround strategy.
National media reports say the move will result in more than 130 job losses.
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