Walmsley Furnishing goes into administration
Private equity firm SKG Capital has bought 25 of the stores and the remaining 35 have closed. It is unclear how many jobs have been lost.
Administrators Leonard Curtis Business Rescue & Recovery said that the sale included all of the stock of the business. It has been reported that the all outstanding orders will be honoured as part of the administration process.
In 2008, Walmsley, along with Argos and World of Leather, was accused of selling sofas that left people with rashes and burns. All three companies had imported sofas from China containing a chemical fungicide called dimethyl fumarate which has now been banned.
The company was founded in 1933 and claimed to be the largest high street furniture retailer in the country.
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