Hundreds of jobs at risk as furniture retailer enters administration

HUNDREDS of jobs are at risk following the collapse of a West Midlands furniture retailer.

National chain Walmsley’s, which is based in Wednesbury, has 60 stores around the country. It has appointed the Birmingham office of Leonard Curtis to handle the administration.

Paul Masters and Alan Clifton, of the firm’s business rescue and recovery team, are acting as joint administrators to Unibrook, 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 TJ Hughes, while flooring retailer Floors-2-Go also went into administration last month although part of the business was later saved.

Walmsley’s was founded in 1933 and grew to become the largest High Street furniture retailer in the country. It was originally based in Preston before the head office was transferred to Wednesbury Trading Estate.