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Sofa Workshop seeks a buyer to salvage jobs
23.01.09
Sofa Workshop said today that it hopes to find a buyer by early next week after collapsing into administration yesterday.
The furniture retailer, which specialises in handmade sofas, has received an offer which is being weighed up by administrators Leonard Curtis. Several other potential bidders have also expressed interest in the chain.
One hundred and seventy jobs are at risk if Sofa Workshop folds. Administrators said many of these will be saved if the sale goes ahead.
It has suffered as cash-strapped consumers stopped doing up their homes. Rivals Land of Leather and ScS Upholstery have also become victims of the High Street slump. Sofa Workshop has 30 stores across the UK, with many in London.
Meanwhile, the administrators to collapsed electrical goods retailer Empire Direct said it had received nearly 160 expressions of interest for parts or all of its assets. KPMG laid off 158 of the 350 staff on Monday and closed its operations.
Reader views (1)
I get really annoyed when I see Sofa Workshop blaming the downturn in the housing market for poor sales. The management team in this instance must take responsibility. I would hope that if a new buyer for this company is found, they will bring in their own sales team. If not, the company will go under before too long.
- Melanie Pressington, Lodsworth, West Sussex
