The High Street was in crisis today as the collapse in consumer confidence, the drying-up of bank lending and the looming end-of-the-month quarterly rent payments sent three groups crashing into administration.

Rosebys, the UK's largest specialist home furnishings group with 280 stores nationwide employing 2000 staff, is in the hands of rescue accountants from KPMG today as sales at the £100 million turnover chain dried up.

“In common with many retailers the group has experienced difficult trading conditions, leading to continuing losses,” said administrator Howard Jones. “Rosebys has recently sought to refinance but this did not prove possible in the current economic climate.”

The failure of Rosebys comes at a torrid time for the furniture and furnishings industry as British consumers refuse to commit to big-ticket spending on the household. Rosebys, a sometime listed company once known as Homestyle, has more recently been owned by Lloyds TSB Development Capital and latterly by the acquisitive Indian group Dalmia.

It followed Willis Gambier into the hands of administrators today. Willis Gambier makes high-end beds and dining tables for the likes of John Lewis and Marks & Spencer.

The trail of devastation has become increasingly evident in the subsector of the market. SCS Upholstery went bust before being rescued in the summer. Sleep Depot failed and Danish Ikea-wannabe Ilva called in the administrators.

Another major retailer has been hit. Motor World, reckoned to be the largest independent car care rival to Halfords, called in insolvency accountants from BDO Stoy Hayward. They sacked 300 staff by closing 95 outlets but said they have saved another 500 jobs for the time being by keeping 237 outlets going.