Administrators from PwC have been appointed to handle the administration of Sofa Workshop. The business had operated from 16 stores and sold online. Over seventy members of its staff have already been made redundant as most stores are closed and no further orders are being taken online. Outstanding customer orders will be fulfilled as the order book was able to be sold.
The retailer had been impacted by supply chain disruption and increased freight costs. A buyer had been sought but no viable offers were received.
Toby Banfield, joint administrator, PwC said: “Unfortunately given the sustained level of losses, the directors had no option but to appoint administrators to protect the creditors of the company.”
Banfield also said that the retailer’s Tottenham Court Road, London store will now trade for up to 14 days to sell off display stock.
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