High street home furnishings chain the Rosebys group of companies has today gone into administration.
The group has an annual turnover of £100m and employs around 2,000 staff at its 280 stores, the head office in Rotherham, South Yorkshire, and distribution centre in Selby, North Yorkshire.
Howard Smith, Richard Fleming and Mark Firmin of KPMG LLP Restructuring have been appointed joint administrators.
“The business is continuing to trade as normal while we review the financial position and seek a going concern sale,” said Smith in a statement. “No employees have been made redundant to date.
“In common with many retailers, the group has experienced difficult trading conditions, leading to continuing losses. Rosebys has recently sought to re-finance, but this did not prove possible in the current economic climate. We are looking for offers for the whole or any part of the business.”
Rosebys sells bedding, curtains, kitchen and bathroom textiles and a selection of housewares.
In the year to March 31 Rosebys made losses of £6m and has remained in the red since then. It owes trade creditors around £11.7m and inter-company creditors £19m.