JDP Furniture Group has successfully exited its Company Voluntary Arrangement (CVA) more than a year ahead of schedule, driven by the "exceptional performance" of Celebrity Motion Furniture, "disciplined financial management, and the commitment of our entire team", reports the brand's MD, Wayne Hollis (pictured).
The CVA process began in 2020, following JDP’s administration. Since then, the group has focused on "rebuilding with purpose and resilience", says Wayne: "This early completion marks a defining moment for the business and everyone involved. Completing the CVA ahead of time reflects what’s possible when strong performance aligns with a clear strategy. Every creditor claim has been settled in full, and we now move forward with real momentum and confidence."
In the year ended 30th September 2024, Celebrity delivered a +7.4% increase in turnover to £17.6m, and pre-tax profit rose by +78% to £1.1m, he adds: "These results reflect our focus on operational efficiency, customer relationships, market responsiveness, and continuous investment in our employees.
"With the CVA behind us, we’re in the strongest position we’ve ever been. We’ve enhanced production, developed new products, and prioritised training, all to support long-term growth.
"Looking ahead, we’re investing in further innovation and getting ready for a strong autumn sales period. Taking full ownership of the company is also a key step forward, enabling faster decision-making and ensuring continuity of vision.
"This is a proud moment for Celebrity, a reflection of our team’s resilience and shared commitment to success. Thank you to everyone who played a part. We remain focused on British craftsmanship, continuous improvement, and building a stronger future."
