Feather & Black has tumbled into administration just a week after its stablemate Multiyork, putting 123 jobs at risk.
The beds and homewares retailer, which operates 25 stores and a website, has appointed Duff & Phelps as administrator.
The business – part of the Wade Furniture Group – will continue to trade while a buyer is sought.
It comes a week after its sister firm Multiyork collapsed into administration.
Feather & Black has a number of concessions within Multiyork stores and employs 123 people across the business.
Joint administrator Allan Graham said that Feather & Black was being traded with a view to being sold as a going concern.
“We are confident that a buyer will be found and encourage any interested parties to come forward,” he said.
He added that the business could no longer meet ongoing liabilities following a slowdown in consumer spending and “tough trading conditions”.
The current management team will remain in their roles and the retailer intends to honour all existing orders.
Feather & Black was co-founded in 2005 by Adam Black and Robbie Feather – who was today appointed as Fenwick’s new chief executive, Retail Week revealed.
Group owner Charles Wade reportedly put both retailers up for sale earlier this year.
No comments yet