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06 Oct 2006
Administrators from PricewaterhouseCooper have stepped in at retail furniture chain Furniture Express following attempts to restructure the business failed.
Roger Marsh and David Walker were appointed joint administrators on 4 October 2006.
FX has a network of 13 stores, the majority of which are located across Northern England, with its headquarters in Sunderland, Tyne & Wear
FX, which has an annual turnover of approximately £13m, was acquired by its management team following the administration of DP Furniture Express in 2005.
Administrator Roger Marsh commented: ‘Since the buy-out in 2005 the directors and management of the company have attempted to restructure the business to cope with what has become an increasingly competitive market. Unfortunately, the costs of restructuring and altering the business model, together with a deteriorating retail market, has led the directors to conclude the company does not have sufficient funds available to it to support ongoing operations.’
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Visitor comments Add your comment
Fooled
Between my son and myself we spent almost £1000 days before it went into liquidation and have just been told not we have much chance of getting the goods or our money back. I'm disgusted...
Posted by: janet, 19 Oct 2006 | 00:00
Interios - Stockton On Tees
Ordered bedroom furniture on 6th September and paid deposit - and still waiting to hear if we will get any furniture or money. It's not only the money, it's the inconvenience of not having any furniture!
Posted by: jo dobson, 26 Oct 2006 | 00:00