THE RETAIL BULLETIN - The home of retail news
Click here
Home Page
News Categories
Commentary
Department Stores
Electricals and Tech
Entertainment
Fashion
Food and Drink
General Merchandise
Grocery
Health and Beauty
Home and DIY
Interviews
People Matter
Retail Business Strategy
Property
Retail Solutions
Electricals & Technology
Sports and Leisure
Christmas Ads
Shopping Centres, High Streets & Retail Parks
Retail Events
People in Retail Awards 2024
Retail HR Central 2024
The Future of The High Street 2024
Retail HR Summit
THE Retail Conference
Upcoming Retail Events
Past Retail Events
Retail Insights
Retail Solutions
Advertise
About
Contact
Subscribe for free
Terms and Policies
Privacy Policy
Multiyork enters administration

Furniture retailer Multiyork has entered administration, putting 550 jobs at risk. Allan Graham and Matt Ingram of Duff & Phelps have been appointed as joint administrators… View Article

GENERAL MERCHANDISE NEWS

Multiyork enters administration

Furniture retailer Multiyork has entered administration, putting 550 jobs at risk.

Allan Graham and Matt Ingram of Duff & Phelps have been appointed as joint administrators to the company.

Founded in 1978, Multiyork is one of the most established quality furniture brands in the UK with 50 retail stores and a manufacturing facility in Norfolk.

The administrators said Multiyork could no longer meet its ongoing liabilities.

Graham said: “Trading conditions for UK retailers continue to be difficult due to a number of factors including economic uncertainty, rising commodity prices, increasing business rates and the fall in value of the pound which has increased the cost of importing raw materials and products. This appears to be leading to a sharp fall in consumer confidence and less money being spent on discretionary items.”

The administrators will continue to trade the business for a short period while they look for a buyer. The current management team members are continuing in their current roles and assisting the administrators during the process.

Graham added: “We are hopeful we can find a buyer and we are asking interested parties to come forward as quickly as possible.”

Subscribe For Retail News