Independent Elgin firm plunges into liquidation after 24 years in business
An independent Elgin firm has collapsed into liquidation after 24 years in business.The Floor Studio entered “compulsory liquidation” last week.The Floor Studio, Elgin.It had been supplying flooring and modern furniture across the north and north east of Scotland since 2002 and was able to survive the coronavirus pandemic thanks to ongoing contracts to fit flooring for new house builds which were empty at the time of the global crisis.The firm specialised in high-quality carpets, vinyl, flooring and furniture and operated from its Southfield Drive showroom since 2009 after its previous premises was demolished.Its “personal service” ensured it remained “very competitive” against what the firm described as the “bigger boys”.However, Stuart Robb, of Robb Advisory, has been appointed liquidator after a petition was presented to Elgin Sheriff Court by HMRC to “wind up” the company back in February. Companies House records from 2024 show the business had capital and reserves of £251,790 which represented a decline of nearly £100,000 compared to the year before.MORE BUSINESS NEWS The company had also been described as “relatively small but operationally active” in a business overview.Records from 2024 also revealed the firm employed 10 staff members.HMRC does not comment on individual cases but did add that it takes a “supportive approach” to dealing with tax debts and only file winding-up petitions once it has “exhausted all other options”. Do you want to respond to this article? If so, click here to submit your thoughts and they may be published in print.
