Creditors of Sir Terence Conran’s furniture wholesaler could get back just 18p in the pound after the company announced it would close.
Content by Terence Conran, which counts billionaire Sir James Dyson among its shareholders, has appointed FRP Advisory to carry out a company voluntary arrangement.
In a letter to creditors seen by The Sunday Times, Conran and fellow director Michael Kingsbury said the company had endured “unprecedented financial distress”. Retailers supplied include John Lewis and the Conran Shop; Content posted sales of £1.7m in the year to last March.
The letter said all orders would be fulfilled, but trading was expected to cease on Friday. Its website was shut down at the end of last week.
Shareholders include Conran, 88, the founder of Habitat;
