Value home furnishings retailer Rosebys has fallen into administration and is the latest high street victim of the credit crunch.
Howard Smith, Richard Fleming and Mark Firmin of KPMG Restructuring have been appointed as joint administrators to the Rosebys group of companies, which trades as the high street value retailer.
The group has an annual turnover of£100 million and employs approximately 2,000 staff across its 280 stores, a head office in Rotherham in South Yorkshire and a distribution centre in Selby, North Yorkshire.
Smith said: “The business is continuing to trade as normal while we review the financial position and seek a going-concern sale. No employees have been made redundant to date.
“In common with many retailers, the group has experienced difficult trading conditions, leading to continuing losses. Rosebys has recently sought to refinance, but this did not prove possible in the current economic climate. We are looking for offers for the whole or any part of the business.”