Tue, 27 Nov 2012 | ADMINISTRATION
Popular furniture business Walmsley's Furniture Ltd has entered administration for the third time in seven years.
Just over a year after the business was sold to turnaround firm SKG Capital, the company has been forced back into administration due to the economic climate.
Julie Swan and Mark Philips of PCR have been appointed as joint administrators. The licensed insolvency practitioners will now oversee the future of the furniture retail company and its 24 stores around the country.
Mr Philips commented on the situation: “Unfortunately Walmsley has, like so many other retail businesses, suffered from the economic recession that has blighted the British high street. We are currently investigating to what extent we will be able to fulfil orders however this is dependent on our ability to acquire stock from third party suppliers. I would, however, stress that it will take some time for us to assess the situation.”
We will provide more information on the administration of Walmsley's Furniture as soon as possible.
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