Allan Graham and Matt Ingram, both of Duff & Phelps Ltd, Joint Administrators to Multiyork Furniture Limited have today announced that the process of orderly wind down with the loss of 112 jobs at its headquarters and manufacturing facility has commenced. The furniture brand operates 50 retail stores nationwide and a manufacturing facility in Thetford, Norfolk.
Allan Graham, Joint Administrator, Duff & Phelps, stated: “Despite considerable effort from both the Administrators and the senior management team at Multiyork, it has not been possible to agree a sale of the entire business yet. While we recognise that there were some offers made, they were not at a level that either produced an acceptable outcome for the Company’s stakeholders or could guarantee the future stability of the business.We will continue efforts to sell all – or parts of – the business; but during this period of managed wind down, the process of selling in-store display items and other business assets will begin. We will also continue to fulfil customer orders,” he added.“We can confirm that the number of redundancies stands at 112 roles in Thetford and we are working with all stakeholders to ensure the best possible support for those who have lost their jobs.”
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