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CREDITORS of multi-depot upholstery fabrics and furniture components supplier Rexmore Textiles have won county court judgments against the company.


The Register of Judgments, Orders and Fines for England and Wales shows three separate judgments, collectively worth £132,920, recorded in the past eight weeks.


All three—including the largest for £115,564—are listed as unsatisfied, though the Register is not always notified as debts are subsequently paid.


It is not known who are the claimants against the Essex based company, which was acquired by Wessex Bristol Investments in a deal that completed December last year.


Wessex Bristol Investments—wholly-owned by Ayiaz Ahmed—has a number of other furniture industry interests, including Witney upholstery vertical Wesley Barrell and Sussex sofa maker Collins and Hayes.


Rexmore Textiles, whose upholstery fabrics and sundries are sold to furniture makers and to the furniture repair market, operates through seven nationwide depots.


It closed its Loughton depot last year, with the redundancy and relocation costs associated with that among the principal causes behind a £560,443 loss (2015: profit of £37,976) for the year to end March 2016.


In 2015–16 accounts, signed off in March, it said declining markets were behind a 3.1 percent fall in sales to £10.2 million and it slipping to a loss as it cut costs. It said it expected to post narrower losses this year, but return to profit in 2017–18.


Despite its loss, the company was cash generative and cut its outstanding overdraft during the year.


Mr Ahmed wasn't available when The Furnishing Report called.

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