The Pier collapses


Furniture retailer/cataloguer The Pier appointed accounting firm
Mazars as administrator. A statement released on 3rd December
said Mazars was “reviewing operations and seeking a buyer
for the business as a going concern”. According to
published reports, 26 out of 57 employees at its Oxfordshire head
office have been made redundant, though no store redundancies
have yet been announced. But the website stopped taking orders
prior to Christmas, and in a 19th December e-newsletter The Pier
announced a “closing down” sale and discounts of up
to 60 per cent. Restructuring specialist Hilco was drafted in to
run the stores whilst the business is in administration. As of
31st December it was unclear whether the Pier would survive its
closing-down sale and reemerge under new ownership, or whether
this was the end for the 19-year-old business.

 

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