1. News
November 29, 2017

Furniture retailer Feather & Black enters administration

UK-based furniture retailer Feather & Black has been placed into administration in the wake of reduced consumer spending.

UK-based furniture retailer Feather & Black has been placed into administration in the wake of reduced consumer spending.

The administration process puts 123 jobs at risk.

The development comes after Feather & Black’s affiliated company Multiyork, which also recently entered administration.

Global valuation and corporate finance advisory services firm Duff & Phelps has been appointed to oversee the administration process.

“With inflation rising faster than wages, consumers are beginning to feel the pinch and have cut back on their household budgets.”

Until a buyer is found, the retailer will continue to operate its stores.

Duff & Phelps joint administrator Allan Graham was quoted by media sources as saying: “The joint administrators are trading Feather & Black in administration in the short term with a view to finding a purchaser for the business as a going concern. We are confident that a buyer will be found and encourage any interested parties to come forward.

Content from our partners
Advanced analytics and predicting market trends in FMCG
How smart predictive analytics is shaping product development
Data analysis in the brave new world

“With inflation rising faster than wages, consumers are beginning to feel the pinch and have cut back on their household budgets. As a result of these tough trading conditions, Feather & Black could no longer meet ongoing liabilities.”

Multiyork also operates as a furniture retailer with 50 locations across the UK.

According to the administrator, Feather & Black could no longer meet ongoing liabilities.

Both companies are owned by Charles Wade.