Walmsley Furnishing, the Midlands-based furniture store chain, has gone into administration for the third time in seven years because of the economic climate.
The firm has 24 stores around the country, including Bradford Street in Walsall and the Mander Centre, Wolverhampton, employing 105 workers. Insolvency practitioners at PCR have been appointed as joint administrators. The stores are still trading and there have so far been no redundancies.
SKG Capital bought Warmsley in September 2011 in a pre-pack deal for £250,000, which resulted in a number of store closures. Unibrook bought the business in 2005 when it went into administration the first time. At that time it had 100 stores nationwide.
Mr Phillips, a licensed insolvency practitioner at PCR, said: “Unfortunately Walmsley has, like so many other retail businesses, suffered from the economic recession that has blighted the British high street.
“We are currently investigating to what extent we will be able to fulfil orders, however this is dependent on our ability to acquire stock from third party suppliers. I would, however, stress that it will take some time for us to assess the situation.”
A customer helpline has been set up by the administrators to answer questions on 01922 704113.