A company which designed and built interiors for luxury yachts has filed for liquidation owing £2.67m to creditors.

Struik & Hamerslag UK has been an interiors specialist for super and luxury boats since 1964 but appointed London administrators Buchler Phillips at the beginning of December.

The business employed 37 people - the impact on which is not yet known.

The administrators working on the behalf of the business were approached for comment.

The Fakenham-based firm owed creditors £2.67 million according to its latest company accounts - published in June for the year ending December 2019.

However, a portion of this could potentially be paid off by funds coming in from the businesses debtors and with cash in the bank totalling £884,375.

The business further reduced its estimated net deficit for 2019 to £1.47m as a result of total - instead of tangible - asset value.

The majority of the monies owed (£827,855) is to the businesses' ultimate parent company Struik & Hamerslag Investments which is based in the Netherlands.

A further £335,003 is owed to its immediate parent company S&H Holding.

Trade creditors were owed £54,523.

The company accounts also highlighted the difficulty the business was already facing due to the pandemic.

Its going concern reads: "Along with many businesses the company is experiencing restrictions to their trade due to the impact of coronavirus and measures taken to combat this. Management are taking all possible steps so as to be able to continue to trade for the foreseeable future.

"The company continues to manufacture at its premises with accounts for the majority of the process of many if the contracts in place.

"While management believe that the measures available to them shall be successful in ensuring the company will continue to trade, in these unprecedented circumstances we are unable to asset that this will be the case."

The company added: "While the long term impact of Covid-19 is unclear, historically the high-end net worth of the company's clients has meant that they have not been overly damaged by previous recessions. There is expected to be a slight downturn whilst the market gets back to full capacity."