FRP ADVISORY administrators have made the entire workforce redundant at RK Furniture.
Philip Armstrong and Steve Stokes from FRP were called in as joint administrators to the office furniture retailer.
The 30-year-old company employed 45 staff across the UK and had an annual turnover of £2.5m.
Armstrong said: “A drop in income severely affected the company’s cashflow and, although a buyer was sought, a sale of the company could not be achieved.
“Sadly, all of RK Furniture’s employees have been made redundant and the company has ceased trading.”
The administrators said that the Tholthorpe-based business was unable to continue trading due to difficult market conditions.
RK Furniture specialised in manufacturing wooden office furniture from desks, tables and pedestals to bookcases, filing cabinets and cupboards.
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