Bathrooms, bedrooms and kitchens retailer Homeform has gone into administration and Moben, Dolphin and Kitchens Direct businesses have been closed down.
Administrator Deloitte has however sold the Sharps Bedrooms business to a new company, an affiliate of Sun European Partners which owned Homeform.
Homeform’s collapse had been widely expected following the filing of a notice of intention to appoint administrators last month, as revealed by Retail Week.
The sale of Sharps, including 96 showrooms and concessions, safeguards 627 jobs and customers who have paid a deposit for a bedroom will have their deposits honoured.
Deloitte is marketing the Moben, Dolphin and Kitchens Direct brands to potential buyers. In the absence of funding, Deloitte said, there was no alternative but to close the business, leading to 557 redundancies.
Joint administrator and partner in Deloitte’s restructuring services team Phil Bowers said: “The business has suffered from the extreme pressures currently hitting retailers of high value items, as customers shy away from big ticket purchases such as kitchen and bathrooms.
“We are now in urgent discussions with the key stakeholders and interested parties of Moben, Dolphin and Kitchens Direct in an attempt to sell all or parts of the businesses.”
No comments yet