Administrators have been appointed to Yorkshire-based bed and mattress manufacturer Kozee Sleep Beds Limited and its subsidiaries.
Joint Administrators from KPMG have been appointed to the Dewsbury-based business and its subsidiaries, Restus Beds Limited and Hick Lane Bedding Limited, in addition to a property investment company within the group, Hick Lane Properties Limited.
The companies ceased trading shortly after the appointment of Jonny Marston and Howard Smith of KPMG’s restructuring practice on May 19.
While the Joint Administrators assess the business’ position and consider its options for the future, its 180 employees have been put on notice of potential redundancy and sent home from work.
Mr Marston, joint administrator and restructuring partner at KPMG, said: “Our first priority upon appointment is to assess the company’s financial position and operations with a view to informing our next steps in fulfilling our statutory duties, trying to secure continued employment wherever possible and maximising the realisations available to creditors.”