PracticeAccounting FirmsFRP advisory transfers four Furniture Barn stores to Lee Longlands

FRP advisory transfers four Furniture Barn stores to Lee Longlands

FRP Advisory successfully sells four Furniture Barn stores to Midlands-based retailer Lee Longlands

FRP advisory transfers four Furniture Barn stores to Lee Longlands

SOME 26 jobs have been saved after joint administrators at FRP Advisory successfully sold four Furniture Barn stores to Midlands-based retailer Lee Longlands.

But 59 jobs have already been lost as the troubled Furniture Barn group which has been operating under a six-month operating licence since January 2016.

The deal means four Furniture Barn stores in Doncaster, Sheffield, Grantham and Kidderminster, have all been transferred to Lee Longlands and will continue to trade.

The operating licence at the quartet of stores has now been terminated early to facilitate the transfer, via an assignment of the relevant leases, and all stores will form part of the Lee Longlands Trading Group.

A store in Market Harborough has begun a closing down sale expected to last for several weeks. A spokesman for FRP Advisory said “the eventual closure of Market Harborough Furniture Barn will result in the loss of around 40 staff, 12 from the shop floor and the rest from head office and support functions.”

That move will result in total job losses of around 100.

Since entering administration on 4 December 2015, The Furniture Barn continued to trade, purchasing furniture and meeting customer demand. Stores at Sutton Coldfield and Thurrock in Essex were closed by the Furniture Barn 2016 Limited by March 2016 as part of a previously announced planned closure.

Nigel Hamilton-Smith, joint administrator and partner at FRP Advisory, said: “We are pleased with the successful transfer of four Furniture Barn stores across Yorkshire, Lincolnshire and Worcestershire to Lee Longlands resulting in 26 jobs associated with those outlets being secured. We would like to wish the new operator, Lee Longlands, every success for the future with its expanded store portfolio.”

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