Furniture, lighting and accessories business Coexistence suffered from a downturn in orders and supplier pressure in the build up to its collapse.

John Lowe and Nathan Jones, both of FRP Advisory Trading Limited, were appointed as joint administrators of Coexistence Limited on 30 September 2025.

In the build up to its administration, the company experienced a significant slow-down in orders and reducing margins throughout 2025, culminating in losses for the past six months of approx. £200,000.

Despite every effort to improve performance, the business, which had been trading for over 50 years, was unable to say with any confidence that performance would turn around. In March 2025, the company Instructed FRP Corporate Finance, with a view to finding a buyer for the business as a going concern.

Following an extensive marketing campaign, an acceptable offer in principle was received on 9 June 2025. Contract negotiations were protracted, however, by 5 September, it became apparent that the sale was not deliverable with both parties walking away.

With supplier pressure increasing, including HMRC arrears, the company identified that it would not be able to operate within its current banking facilities.

FRP was engaged by the company to review the its financial position and consider its options. FRP advertised the business for sale and reached out to 20 parties, who had signed NDAs, with a view to seeking interest in a solvent AMA process.

Given the company’s forecast for cash reserves to rapidly deplete, the Directors requested that FRP also made interested parties aware that a transaction from Administration would also be considered.

No offers were received and this coupled with the cashflow pressure, the Directors concluded that it was necessary to place the company into administration.

“Following our appointment, we received interest from several parties for the company’s IPR and stock,” administrators said. “Daniel Gay has corresponded with all these interested parties and provided them with the relevant information to lodge a formal offer.

“To date, we have received two offers for the Company’s IPR which have been forwarded to our agents for consideration.”

As for creditors, preferential creditor employee claims are owed £2,500, while the HMRC is owed £145,000. Both are expected to be repaid from realised asserts valuing £735,000.

Unsecured creditors are owed £975,000, including a further £114,000 owed to staff and £19,000 owed to consumers. It is expected that creditors will suffer a shortfall of £390,000.