Creditors of bed manufacturer Airsprung are set to face a significant shortfall after the group entered administration.
Edward Williams and Ross Connock, of PwC were appointed joint administrators of Airsprung Group PLC and Airsprung Furniture Limited on 1 May 2026.
Detailed in newly filed documents on Companies House, preferential creditor employee claims from Airsprung Furniture Limited are owed £255,000, while the HMRC is owed £1.4m, which are expected to be repaid from realised assets valuing £3.4m.
Unsecured creditors are owed £44.2m, which includes £22.7m owed to a pension scheme and £18.3m owed as intercompany debt. The trade is owned £1.7m, while employees are owed a further £3.1m. It is expected that creditors will suffer a shortfall of £48.6m.
Furthermore, creditors of its parent company Airsprung Group are expected to suffer a shortfall of £35.7m, which includes £10.2m owed as intercompany debt and the same amount owed to the pension scheme as detailed above.
A combined shortfall of both companies totals £61.6m. This includes one count of the pension deficit due to both companies being responsible for the same debt.
Headquarted in Trowbridge, Airsprung experienced difficult trading conditions in recent years and increasing cashflow challenges over the last few months. In response, Airsprung explored potential investment and offers for the business but given the cashflow position and the level and nature of interest, the directors had no choice but to place the company in administration.
Based on the overall trading and order book position, 71 of its 202 employees were made redundant upon appointment while those remaining were retained to assist with the ongoing operations of the business.
A notice from administrators said that it is continuing to trade the company. “The Joint Administrators continue to trade the Airsprung and Airofreem businesses. The Factory Shop on Canal Road Industrial Estate, Trowbridge remains open under regular opening hours offering discounted prices for various stock lines.
“Please note that we are unable to take orders through the Factory Shop Website. Gainsborough, Arena-design, Hushabyebeds and Swanglen have ceased trading upon appointment of the Joint Administrators.”
