John Pye appointed to sell stock of failed sofa firm

A Nottingham firm has been appointed to handle the valuation and disposal of stock from Fabb Sofas – the upholstery firm which fell into administration over the last week.

John Pye’s Business Assets department won the job after Fabb Sofas, which was established in 2016 by ex-DFS senior management, announced that it would be closing nine stores across the UK, all of which will be closing.

John Pye Auctions will be auctioning all of the store stock which includes thousands of items of furniture, as well as sofas and chairs. The items will be sold through a number of online auctions which will be held in June and July.

Trevor Palethorpe, national head of corporate valuations at John Pye Auctions, said: “Following the Fabb Sofas announcement, we will begin the considerable process of clearing the store stock to our 22 sites across the UK ahead of the auctions, which will take place later this month and into July.

“This is an opportunity to purchase sofas, chairs and other furniture with a potential saving of up to 75% on recommended retail price. Fabb Sofas have wide range of stock and I would advise those interested to view the lots and bid early.”