Just five days after the collapse of Multiyork Furniture, bedmaker and retailer Feather & Black has entered administration.
Allan Graham and Matt Ingram of Duff & Phelps were appointed joint administrators of Feather & Black on 27th November. Founded in 2005, the company runs through 25 stores and concessions, and is headquartered in Chichester, West Sussex, and employs 123 staff.
Feather & Black Ltd is owned by the Wade family, which also owns Multiyork. Multiyork went into administration on 22nd November placing 550 jobs at risk, and Duff & Phelps is currently seeking buyers for both businesses.
Allan Graham states: “The joint administrators are trading Feather & Black in Administration in the short term with a view to finding a purchaser for the business as a going concern. We are confident that a buyer will be found and encourage any interested parties to come forward.” He cites a "slowdown in consumer spending" and "tough trading conditions" for Feather & Black's failure to meet its ongoing liabilities.
The current management team remains in place and is assisting the administrators during the process. “The current intention is for all orders made before 27th November to be honoured and customers will be contacted in due course with updates relating to these orders as required,” Allan concludes.
