Another Large Company has Collapsed!

It would seem another large company has failed. Palmer & Harvey, a major UK wholesaler has gone into administration following failed rescue talks. The company has employed 3,400 people and now 2,500 of them will lose their jobs with immediate effect. The 900 remaining will close the company down with the help of PwC, the administrators.

More administration woes for the furniture retail sector

Within a week of Multiyork’s collapse another furniture retailer, Feather & Black, are facing closure, with 123 jobs at stake. Feather & Black have the same owners as Multiyork. Even though the administrators, Duff & Phelps, say they are confident a buyer will be found, they can give no guarantee. Once again the suppliers will be uncertain as to whether they will be paid.

Don’t let the tables turn on you!

550 jobs are at risk following another high-profile company being taken into administration. Multiyork, the furniture retailer, will trade until Christmas while administrators Duff & Phelps seek a buyer. Although Multiyork will honour orders made up to 22nd November, it is not looking good for the business that has already been saved once before from receivership back in 1995.