Attempts to find a buyer for furniture retailer Warren Evans whilst trading have failed and the business has now fallen into administration. The loss-making retailer operates from 14 stores, as well as online, and has its own London based factory. Duff & Phelps joint administrators are now seeking a buyer for the assets of the business.
“Despite strong like-for-like sales in the pre-Christmas period, the picture moving in 2018 has been dramatically different and this has impacted the search and scope for new investment, said Allan Graham of Duffs & Phelps. “Warren Evans is rightly recognised as one of the UK’s leading bed, mattress and furniture retailers, but trading conditions are exceptionally challenging with the business hit by rising manufacturing costs and the continued squeeze on consumer wallets and confidence.”
Market watchers anticipate that DFS or Hilding Anders may make offers for the brand but both have their hands pretty full with recent buys – Multiyork (DFS) and Feather & Black (Hilding Anders).
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