Feather and Black, the luxury bedding firm, follows MultiYork furniture business into administration today. The firm is owned by the Wade family which also owned MultiYork. Feather and Black employs 120 people across 25 stores and the administrators at Duff and Phelps have said that they are seeking a purchaser for the business.
Joint administrator Allan Graham said; "The joint administrators are trading Feather & Black in administration in the short term with a view to finding a purchaser for the business as a going concern. We are confident that a buyer will be found and encourage any interested parties to come forward,"
Graham also said: "The current intention is for all orders made before 27 November to be honoured and customers will be contacted in due course with updates relating to these orders as required."
As is usual at this time the demise of this company has been blamed on the fall in consumer confidence when it comes to big-ticket items. Recent figures show that there has in fact been a rise in retail sales although there was a blip in September. Retail has always been a fiercely competitive market and it is likely that they have not been able to adapt quick enough to the changing environment.
What is interesting is that neither Multiyork or Feather and Black tried to do a CVA with the landlords as a way of buying some extra time. It may have been that they were not in arrears on the rent or they could not have counted on the support of the landlords anyway. However, for any retailer, it is always worth looking into this option. See this page for details of our retailer rescue strategy.
If you have ordered goods from Feather and Black read this page for guidelines on your rights