Furniture company enters administration with 271 jobs at risk
Some 271 jobs are at risk at a Lincolnshire furniture manufacturer after administrators were appointed to the firm.
Chris Pole and Mark Orton from KPMG Restructuring have been appointed joint administrators to The Quality Furniture Company, based in Grantham.
The company, which makes sofas for retailers including DFS, Next, Argos, Homebase, Laura Ashley and John Lewis, employs approximately 271 people. As yet, the administrators says there have been no redundancies.
Chris Pole, partner at KPMG and joint administrator, commented: “Like many operating in the retail sector at the moment, the Quality Furniture Company has been facing challenging market conditions for some time. This, along with cost pressures, a weakened pound and a decline in consumer spending, has impacted trading and has led the directors to take the difficult decision to place the company into administration.
“We will be looking to trade the business in the short term and would advise any interested parties to contact the joint administrators as soon as possible to express their interest.”