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The furniture store chain has gone into administration due to ‘rising occupational costs’ putting pressure of the company’s cash flow. Dean House Limited, trading as Betta Living, appointed administrators last Friday after closing all 24 stores and sending staff home. 300 jobs are at risk.
The company said in a statement, “Rising occupational costs from newer space had pushed the Company into a loss making position and squeezed cash-flow, more recently to unsustainable levels leaving no viable option other than for the Company to seek the protection of administration to allow for a more viable long term solution to be found.”
Joint administrators from FRP Advisory are hoping to secure a suitable buyer for all or parts of the business and its assets. They ask for any interested parties to come forward.
Unfortunately many customers will not have their orders delivered, even if they have already paid. FRP will be writing to affected customers this week, however there is a dedicated email address set up for customer queries: firstname.lastname@example.org.
Mark Pullan, Managing Director of Wren Kitchens, has come forward to support customers affected:
“For those customers who have paid a deposit and are worried that they may have lost money then please email or go into your nearest Wren store with both your kitchen order and proof of payment and Wren will not only match the quote provided by Betta Living but we will also honour any deposit you have paid up to 10% of the order value.”
If you are an employee of the business, please listen to the video below as it will tell you your rights as an employee of an insolvent business. There is a link at the end of the video to the Government website which expands further on what you need to know.