Furniture retailer Walmsley’s in administration

HUNDREDS of jobs are at risk following the collapse of furniture retailer Walmsley’s.

Founded in 1933, the national chain was originally based in Preston before the head office was transferred to Wednesbury. It has 60 stores around the country.

The Birmingham office of Leonard Curtis has been appointed to handle the administration. Paul Masters and Alan Clifton, of the firm’s Business Rescue & Recovery team, are acting as joint administrators to Unibrook Ltd, which trades as Walmsley’s.

So far they have managed to salvage 25 of the company’s stores in a pre-packaged administration. The deal has secured the jobs of around 100 people.

Details of the deal have not been disclosed, however, reports suggest the new owner is private equity firm SKG Capital.

The new owner has also acquired the group’s entire stock, which is set to be transferred to the stores still trading.

The fate of the remaining 35 stores, which employ around 200 people, is unclear but it is thought these stores will close and the staff made redundant.

The firm is the latest victim of the slowdown in consumer spending which has recently seen the demise of department store chain T J Hughes.