Thu, 04 Jul 2013 | ADMINISTRATION
The founder of embattled houseware retailer Dwell, Aamir Ahmad, has stepped in to rescue the business.
Mr Ahmad will take on a good portion of the stores, saving about 150 jobs, after Dwell entered administration last month with 300 jobs hanging in the balance.
On entering insolvency Dwell had said that no more deliveries would be made, and that any customers waiting for orders should contact their card issuer. In reaction, enraged customers had taken to Dwell’s Facebook page to voice their complaints about uncompleted orders - some having waited months - and concerns that deposits would be lost.
Mr Ahmad acknowledged Dwell’s customers’ predicament and commented: “Our priority lies with the customers and suppliers who have been let down by the former management. We are working hard to try and resolve the issues, in particular outstanding customer orders.
“Although we are not legally obliged to, we are doing everything we can to find a solution for customers who have lost out. Our primary goal is to help customer and suppliers regain their trust in the Dwell brand.”
First of all Mr Ahmad aims to reopen the stores at Tottenham Court Road, Westfield London, Westfield Stratford City, Lakeside shopping centre in Essex and Barton Square in Manchester. He is also in discussions with the landlords with a view to opening other Dwell shops, which numbered 23 before its failure.
Mr Ahmad opened Dwell from a store in Balham, South London in 2003, with financial assistance from his family.
John Whitefield, one of the administrators at Duff & Phelps, enthused: “We are delighted to have been able to conclude an agreement that results in not only the continuation of the brand, but saves many of the employees’ roles as well as securing the best outcome for suppliers.
“The new management will now be in the position to work with customers to try and identify the best solution for everyone concerned.”
Retail businesses in administration
Dwell ceases trading
Dwell is on the brink of entering administration
Established 25 years, vendors introduced Gas Patio Heaters to the Commercial Sector, which have now become an everyday product. This extremely profitable distribution venture has been successfully supplying the leisure industry with many high-quality...
Founded in 2013, this North West-based online shoe retailer has enjoyed great success –and profits continue to grow. The business’s achievements are down to getting the fundamentals right in online retail: a solid, diverse supply chain; keeping custo...
Supplies made-to-measure curtains and roman blinds nationwide. Most revenue comes from e-commerce sales, with a small proportion derived from a showroom at its North Shields premises.
HVAC manufacturer planning domestic and international M&A growth | BUSINESS SALE
The Carver Group, an international developer, manufacturer a...
Accountancy firm to target M&A growth after securing PE backing | BUSINESS NEWS
Accountancy business Duncan & Toplis is set to embark on a g...
Remainder of packaging firm acquired out of administration | ADMINISTRATION
A Mansfield-based packaging business has been acquired out o...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
We can help you capitalise on insolvent businesses. We list UK businesses in administration, liquidation and with winding up petitions daily. Ensuring our members never miss out on an opportunity
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.