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Furniture firm in administration
Friday September 2nd 2011
Furniture chain Walmsley has become the latest casualty of the consumer spending downturn after collapsing into administration.
The business has more than 60 stores across the UK, although 25 have already been sold to a new owner by administrators from Leonard Curtis. Uncertainty surrounds the future of the remaining stores and staff.
The failure of Walmsley's, which specialises in sofas, beds and dining furniture, follows the recent demise of Floors2Go, Lombok and the UK arm of Habitat.
Furniture retailers have been particularly badly hit as cashstrapped consumers put off purchases of big ticket items.
The new owner of the 25 stores, reported to be a private equity firm, has also acquired all of Walmsley's stock.
Of the company's 63 stores, it is understood that 38 have been closed, mainly in the north of England and the Midlands.
In the North West eight stores shut, in Ashton, Blackburn, Burnley, Farnworth, Kirkby, Preston, Runcorn and Skelmersdale.
There have been nine closures in the Midlands and Wales: Bangor, Coventry, Derby, Dudley, Erdington, Hereford, Stafford, Walsall and Wrexham.
Copyright © Press Association 2011
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