According to reports in the papers today, Dwell, the 24-store furniture chain, is expected to announce shortly that it will file a notice of intention to appoint accountants Duff & Phelps as administrators. Furniture and the DIY market has been hit by the historically low levels of housing activity and the threat of online retailers. Private equity house Key Capital Partners invested £5m into Dwell in 2010. Barclays are the firms bankers
Dwell had been looking at various options such as a sale of the business but no buyer has been found. They hired Argyll Partners to carry out the investigations.Dwell had losses of £675,320 to January 2012. But revenues rose 3pc to £34.5m. As we know thoug,h revenues are not all important. It is cashflow that is king!