Multiyork administrators confirm redundancies after failing to sell furniture chain

More than 100 jobs have been lost jobs at the headquarters of troubled furniture chain Multiyork, which has 50 stores across the country, administrators have confirmed.

Administrators said it has “not been possible to agree a sale of the entire business yet”, leading to 112 redundancies at the company’s Thetford headquarters. The firm is ultimately owned Charles Wade of Wade Furniture Group – based at Ravenstone Hall, near Coalville.

Multiyork has branches across the East Midlands in Oadby, Lincoln and Nottingham.

The company went into administration on November 23, blaming tough trading conditions.

Allan Graham and Matt Ingram, of Duff & Phelps announced today that the company will begin a process of orderly wind down.

Graham said: “Despite considerable effort from both the administrators and the senior management team at Multiyork, it has not been possible to agree a sale of the entire business yet. While we recognise that there were some offers made, they were not at a level that either produced an acceptable outcome for the Company’s stakeholders or could guarantee the future stability of the business.

“We will continue efforts to sell all – or parts of – the business; but during this period of managed wind down, the process of selling in-store display items and other business assets will begin. We will also continue to fulfil customer orders,” he added.

“We can confirm that the number of redundancies stands at 112 roles in Thetford and we are working with all stakeholders to ensure the best possible support for those who have lost their jobs.”