Milton Keynes-based furniture retailer Dwell has appointed administrators who are developing a strategy for the future of 300 workers told to stay at home.
Dwell, which has its registered office in Harding Road, Brinklow, and outlets in Patriot Drive, Rooksley, and thecentre:mk as well as a central warehouse and distribution centre, ceased trading with immediate effect on June 20.
Now John Whitfield and Philip Duffy, both of financial advisory and investment banking firm Duff & Phelps, have been appointed joint administrators.
The company has 23 stores and one concession in the House of Fraser. All employees were asked to stay at home pending confirmation of the appointment and no orders have been dispatched from that date.
John Whitfield, joint administrator, said: “Following our appointment we will be formulating a strategy for the administration. Employees will be notified of their position as soon as possible.”
A “large number” of customers have paid deposits for orders. The advice to people who gave bought goods and have outstanding orders is to “contact their card issuer in the first instance”.
Mr Whitfield added: “Other customers who have not paid by credit card will be unsecured creditors and should notify Duff & Phelps in writing at its Birmingham office.
“At this stage we have not concluded the position on gift vouchers so accordingly we would ask any customer with a gift voucher to contact Duff & Phelps in writing.”
Dwell had previously said the company was not able to obtain working capital to continue and bosses were left with “no option” but to close it down with “immediate effect”.
A spokesman from Dwell Retail Limited, said: “The business had been working with its advisers, to secure further working capital for the business and was actively in the process of talking to a number of interested parties who saw the value of the Dwell brand and product, its customer base and its multi channel proposition.
“However, despite this interest it did not progress. As a result we have been left with no option but to close the business with immediate effect.”