Overwhelming trading losses have led Multiyork to be placed into administration, leaving the future of its 50 stores and almost 550 staff at risk.

The manufacturer and retailer is owned by Charles Wade of Wade Furniture Group, who also owns Feather & Black, a separate company which is said to be unaffected by the administration.

Duff & Phelps was appointed joint administrator this week, and has said that the business will continue running for a short time as a buyer is sought, and that all orders placed up until yesterday would be honoured.