Furniture specialist, Paul Simon, entered administration early last month after poor sales and tough online competition led to the company's demise. Deloitte were appointed to assist with the process and indicated 17 loss-making stores across the UK were to close in order to encourage a sale for all or part of the business.
Last week it was revealed seven stores have now been sold to Lewis Home Retail, saving 73 jobs. These are:
- New Malden
However with regret, eight branches have had to close, including Bristol, Slough, Worthing, Enfield, Gillingham, Ashford, Beckton and Reading. 5 other stores already closed last month.
Deloitte are continuing to seek a buyer for all or part of the business, including its 22 remaining stores. This has been a very difficult time, however some good news has arrived for the retailer.